Uganda joins Afreximbank’s Fund for Export-Development in Africa (FEDA) as 21st Member State
Seeking to expand the scope of intervention of the African Export Development Fund (FedA), the African Export International Bank (AFREXIMBANK) (AFREXIMBANK) (www.afreximbank.com) Development affects the investment sector, arrives at the Uganda Fund’s establishment agreement, and reaches every corner of the mainland. Following Uganda’s entry, the Federal Province expanded its operations to 21 member states, enhancing its role as a key player in shaping the future of Africa’s economy.
The signing ceremony in Kampala was attended by Phillip Rukikaire, regional director of the Regional Peace and Security Department of Uganda’s Ministry of Foreign Affairs, representing the Permanent Secretary, Ministry of Foreign Affairs, and Mrs. Marlene Ngoyi, CEO of FedA. Mr. Kudakwashe Matereke, Director of the East Africa Region of Afreximbank, witnessed the historical event.
Leave a comment at the ceremonyMrs. MarinCEO of Fedaemphasizing the significance of Uganda’s joining:
“Uganda’s decision to join Feda demonstrates the country’s confidence in Feda’s mission and is committed to accelerating economic transformation, value-added export development and industrialization in Africa. We look forward to deepening participation with the Ugandan government and private sector to mobilize capital and invest in manufacturing and export-related sectors and unlocking the region’s sustainable development potential,” she added.
Ambassador Philip Rukikaire stressed the importance of Uganda in Feda, noting: “Today marks an important milestone in Uganda’s economic development journey. By joining Feda, we reaffirm our dedication to a prosperous Africa driven by industrialization and African trade. Africa needs more trade, and this partnership will provide much-needed investment to drive the growth of our manufacturing and export sectors.”
Uganda’s membership comes amid a recent wave of joining Feda, strengthening the fund’s ability to provide long-term capital to African economies. Over the past four years, Afreximbank has approved $813 million in financing for Uganda’s public and private sectors, with its pipeline exceeding $1 billion in pending approvals.
Feda is Afreximbank’s development impact investment platform with the task of implementing stock investment in Africa. Its main goal is to provide development equity and quasi-equity capital to companies involved in the development/manufacturing of Africa, with a focus on industrialization, intra-African trade and value-added exports.
Distributed by Apo Group on behalf of Afreximbank.
Media Contact:
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Communication and Event Manager (Media Relations)
e-mail: press@afreximbank.com
Margaret Kafeero,
Head of Public Diplomacy, Uganda Ministry of Foreign Affairs
e-mail: Margaret.kafeero@mofa.go.ug
About Feda:
The African Export Fund (“FedA”) is an impact subsidiary of Afreximbank (www.afreximbank.com), establishing a multi-billion dollar funding gap (especially on equity) designed to provide equity, quasi-equity and debt capital to fund the billions of dollars needed to change the African trade sector. Feda adopts a multisectoral investment strategy along the intra-African trade, value-added export development, and manufacturing value chains, including financial services, technology, consumer and retail products, manufacturing, transportation and logistics, agribusiness, and auxiliary trade activation infrastructure such as industrial parks.
