Lagos: The Fund for Export Development in Africa (FEDA), an equity investment branch of African Export-Import Bank (Afreximbank), has recently expanded its membership. The Republic of Senegal and the Republic of Liberia have acceded to the FEDA Establishment Agreement. Additionally, the Republic of Zimbabwe and the Republic of Angola have ratified the Agreement.
According to African Press Organization, these developments mark significant progress in FEDA's mission to close the equity funding gap across the continent. With Senegal and Liberia's accession, FEDA now consists of twenty-four member countries. The ratification by Zimbabwe and Angola provides a stronger foundation for FEDA to support strategic industrial and critical mineral processing investment opportunities in these nations, including logistics, agro-processing, energy, manufacturing, financial services, and strategic mineral processing.
FEDAs growing membership enhances its ability to pursue its mandate and build robust partnerships with governments and the private sector. The fund's expansion broadens its geographic scope and strengthens its capacity to deploy long-term domestic capital for transformative regional investments. FEDA offers equity, quasi-equity, and other forms of patient capital to projects and businesses that promote economic diversification, regional integration, and export development.
As FEDA continues to expand its continental presence, it aims to collaborate closely with member states to identify promising investment opportunities. This includes mobilizing additional capital alongside FEDAs resources and forming partnerships with public and private investors to enhance investment scale for African businesses and strategic projects.
Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank and FEDA, emphasized the growing confidence of African governments in the institutions they own. He highlighted the importance of FEDAs equity and quasi-equity instruments in executing strategic industrial projects. Emmanuel Assiak, Chief Executive Officer of FEDA, expressed optimism about converting the expanded membership into investments that reinforce local and regional value chains, support competitive African businesses, and deliver sustainable economic impact.
In the past five years, FEDA has significantly bolstered its investment capacity, with Afreximbank's commitment increasing from US$100 million to US$1.3 billion, enabling it to expand its investment activities across various regions and sectors.
