KIGALI, September 8, 2026 — The Fund for Export Development in Africa [ FEDA ], the equity investment arm of the African Export-Import Bank [Afreximbank], has expanded its membership to 24 countries following the accession of Senegal and Liberia and the ratification of its Establishment Agreement by Zimbabwe and Angola.
FEDA said the latest developments strengthen its continental mandate and position the fund to play a greater role in addressing Africa’s equity funding gap.
The accession of Senegal and Liberia, alongside the ratification of the agreement by Zimbabwe and Angola, is expected to provide a stronger basis for FEDA to pursue investment opportunities in strategic sectors in the four countries, including logistics, agro-processing, energy, manufacturing, financial services and critical mineral processing.
FEDA said its growing membership is broadening the geographical scope of its interventions and enhancing its capacity to deploy long-term capital in support of regional investments.
The fund provides equity, quasi-equity and other forms of patient capital to projects and businesses aimed at promoting economic diversification, regional integration and export development.
As its membership expands, FEDA said it would work with member states to identify commercially viable investment opportunities with measurable development impact. The fund also plans to mobilise additional capital alongside its own resources and build partnerships with public and private investors to increase funding for African businesses and strategic projects.
Dr George Elombi, President and Chairman of the Boards of Directors of Afreximbank and FEDA, said the latest membership developments reflected growing confidence among African governments in institutions established to mobilise capital for the continent’s development.
“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,” Elombi said.
“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 the expansion of the fund’s membership would increase the number of markets in which it could pursue investment opportunities and strengthen partnerships with governments and the private sector.
“Senegal, Liberia, Angola and Zimbabwe each offer compelling opportunities for investment across strategic sectors of their economies,” Assiak said.
“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.”
FEDA’s investment capacity has also increased significantly over the past five years, with Afreximbank’s commitment to the fund rising from US$ 100 million to US$ 1.3 billion.
The increased commitment has enabled FEDA to expand its investment activities across a wider range of regions and sectors.
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