14 September, 2026
The Fund for Export Development in Africa (FEDA), the equity investment arm of the African Export-Import Bank (Afreximbank), has expanded its membership, with Senegal and Liberia acceding to the FEDA Establishment Agreement, while Zimbabwe and Angola have ratified the Agreement. The developments bring FEDA’s membership to 24 countries and strengthen its mandate to support investment and economic development across the continent.
The expanded membership is expected to strengthen FEDA’s capacity to address Africa’s equity funding gap and support strategic investments in sectors including logistics, agro-processing, energy, manufacturing, financial services and critical mineral processing. The Fund’s broader geographic reach will also enable it to pursue more opportunities that contribute to economic diversification, regional integration and export development.
FEDA provides equity, quasi-equity and other forms of patient capital to businesses and projects with the potential to drive transformative economic activity. As its continental footprint grows, the Fund plans to work with member states to identify commercially viable investments with measurable development impact, while mobilising additional capital and partnerships with public and private investors to increase funding available to African businesses and strategic projects.
Afreximbank and FEDA President and Chairman Dr George Elombi said the latest membership milestones demonstrate growing confidence among African governments in strengthening institutions capable of mobilising and deploying African capital for the continent’s development. FEDA Chief Executive Officer Emmanuel Assiak added that the expanded membership would create opportunities to build stronger partnerships with governments and the private sector, strengthen local and regional value chains, and support competitive African businesses.
FEDA has also significantly increased its investment capacity over the past five years, with Afreximbank’s commitment rising from $100 million to $1.3 billion. The increase is expected to enable the Fund to expand its investment activities across more regions and sectors, supporting the mobilisation of long-term capital for Africa’s industrialisation and regional integration.