Long-serving EADB boss exits after 17 years

East African Development Bank Director General Vivienne Yeda. [File, Standard]

The East African Development Bank (EADB) board has announced the retirement of Ms Vivienne Yeda as Director General - effective December 31, 2024, upon completion of her tenure.

During her term as the Director General, the bank recorded tremendous growth, with total assets rising from $244 million (Sh31.48 billion) in 2008 to $497 million (Sh64.11 billion) this year, while profitability grew to $13 million (Sh1.68 billion) this year from a loss of $9 million (Sh1.16 billion) in 2008.

Under her leadership, non-performing loans contracted from a high of 26 per cent in 2009 to 0.88 per cent this year amidst a favourable credit rating of A by S&P Global Ratings. “Ms Yeda has been instrumental in cementing the bank’s position as the premier development lender in the region, supporting numerous small and medium-sized enterprises across Kenya, Uganda, Tanzania, and Rwanda in line with the bank’s strategic goals and ambitions,” noted the statement.

The board lauded Ms Yeda for her dedication to EADB, and for her commitment that has yielded growth and transformation for the institution. The board wishes Ms Yeda every best wish in her next chapter,” it noted.

The board has now appointed Paul Mono as the acting Director General of the regional lender, pending the conclusion of the recruitment process.

Mr Mono is a finance and banking professional with over 20 years, mostly in development financing, having also practised in the hospitality and manufacturing industries.

Presently, he is the head of finance and chairs several committees in the bank. A statement from EADB said Ms Yeda’s retirement follows an outstanding 17-year career with the regional lender, having joined in 2008.

Mr Mono is a certified public accountant and holds a Master of Applied Finance from Macquarie University, Australia and a Bachelor of Commerce (Accounting) from the University of Dar es Salaam, Tanzania.

“The board of the EADB has every confidence in Mr Mono’s proven ability to steward the bank in the intervening period and wish him success in his role,” noted the lender.