TDB to launch three new virtual deal rooms with Asoko Insight
The Eastern and Southern African Trade and Development Bank (TDB), in partnership with Asoko Insight, has announced the launch of three new virtual TDB deal rooms to accelerate the deployment of capital into priority sector projects in Africa, namely: infrastructure, health and climate action.
The sectors align with regional priorities as well as with the global development agenda as guided by the SDGs, the Paris Agreement and Agenda 2063. Infrastructure development, including health, is a key enabler to productivity and growth for all sectors of the economy while climate action makes the continent less vulnerable to climate shocks and provides new opportunities for economic growth.
Building on the success of the pilot TDB Renewable Energy Deal Room launched in 2021, which generated over a billion dollars of actionable opportunities in the region’s renewable energy market for TDB, the Bank is launching these three new deal rooms to widen its search for impactful projects across the region. TDB has substantial financing available to deploy into long-term infrastructure, health, and climate focused projects, and is looking for the right opportunities.
With a proven track record with private sector players and digital engagement on the continent, Asoko Insight, through the virtual deal rooms, will connect TDB to a wide range of private sector actors and contribute to enabling the Bank to expand its pipeline of bankable projects in targeted sectors, ultimately speeding up deal origination.
Michael Awori, TDB CEO, said, “With the initial deal room, we were able to pilot an innovative and standardised approach to project origination. Through these new virtual deal rooms, we want to connect with a wider network of project sponsors with impactful initiatives that can advance sustainable development in the region and ultimately scale-up and accelerate the deployment of our financing towards these three important sectors.”
Rob Withagen, Asoko Insight’s co-founder and CEO, said, “We are excited to be growing our collaboration with TDB, which is proving itself to be a leader in digital innovation in Africa’s deal-making space. The expanded contract to develop this suite of virtual deal rooms is an important validation of what we’ve seen evidence of for some time: that digital channels offer an important route to expanding access to financing for Africa’s private sector. A lack of corporate data acts as a major barrier to business growth. African businesses have shown they can combat this problem by providing due diligence data when offered a secure environment and proper incentives. We expect significant growth in this arena, with far-reaching benefits for the investment landscape and Africa’s sustainable development”.
TDB has a track record of leveraging technology to drive innovations across its operations in order to better serve its clients by making processes easier and faster while also reducing costs and lowering its carbon footprint. By partnering with Asoko Insight on these virtual deal rooms, TDB continues to stay at the forefront of technological innovation, using digital channels to facilitate access to finance.
Asoko Insight is Africa’s leading corporate date and engagement platform, providing global investors, multinationals and development institutions the most effective route to discover, shortlist and engage their target universe of African companies.