FEDA grows membership as Senegal, Liberia acceds; Zimbabwe, Angola ratify agreement

Fund for Export Development in Africa (FEDA), the equity investment arm of African Export-Import Bank (Afreximbank), has made significant progress in expanding its membership, with the Republic of Senegal and the Republic of Liberia acceding to the FEDA Establishment Agreement, and the Republic of Zimbabwe and the Republic of Angola ratifying the Agreement.

These latest milestones further strengthen FEDA’s growing membership and mandate across the continent and reflects its strategic importance to closing the equity funding gap on the continent.

The accession of Senegal and Liberia, which brings FEDA’s membership to twenty-four countries, together with the ratification of its Establishment Agreement by Zimbabwe and Angola, provides a stronger foundation for FEDA to support strategic industrial and critical mineral processing investment opportunities in these countries, including logistics, agro-processing, energy, manufacturing, financial services, and strategic mineral processing.

FEDA’s expanding membership broadens the geographic scope of its interventions and strengthens its ability to deploy long-term domestic capital in support of transformative regional investments. The Fund provides equity, quasi-equity and other forms of patient capital to projects and businesses that advance economic diversification, regional integration and export development.

As FEDA continues to grow its continental footprint, the Fund will work closely with its member states to identify investment opportunities that combine strong commercial fundamentals with measurable development impact. This includes mobilising additional capital alongside FEDA’s own resources and building partnerships with public and private investors to increase the scale of investment available to African businesses and strategic projects.

Dr George Elombi, President and Chairman of both the Board of Directors of Afreximbank and FEDA, said: “These latest membership milestones demonstrate the growing confidence of African governments in the institutions they own and control and their commitment to building strong institutions capable of mobilising and deploying African capital for Africa’s development.

As the Afreximbank Group pursues its African industrialisation agenda, FEDA’s equity and quasi-equity instruments will become critical to executing strategic industrial projects at national and regional levels. The growing membership of the fund will, therefore, help to catalyse such investments across the continent.”  

Emmanuel Assiak, Chief Executive Officer of FEDA, said: “FEDA’s continued membership growth significantly expands the markets in which we can pursue our mandate and build stronger partnerships with governments and the private sector.

Senegal, Liberia, Angola and Zimbabwe each offer compelling opportunities for investment across strategic sectors of their economies. We look forward to translating this expanded footprint into investments that strengthen local and regional value chains, support competitive African businesses and deliver sustainable economic impact.”

Over the past five years, FEDA has also significantly strengthened its investment capacity, with Afreximbank’s commitment increasing from US$100 million to $1.3 billion, enabling the Fund to expand its investment activities across a broader range of regions and sectors.