Afreximbank’s Export Development Fund opens office in Kigali
The Fund is expected to tackle Africa’s $110 billion equity financing gapKampala, Uganda | THE INDEPENDENT | Pan African multilateral lender, African Export – Import Bank has unveiled its Fund for Export Development in Africa (FEDA) office in Kigali, Rwanda. FEDA was established to tackle Africa’s US$110 billion financing gap for intra-African trade, value-added export development, and industrialisation value chains, with Rwanda being the first among fifteen African nations to ratify its establishment agreement. Prof. Oramah said FEDA adds to the pool of institutions helping Africa to create its own capital base for development. Funds Under Management under different strategies amount to about US$800 million and FEDA is using some of these funds to create and mobilise additional funds. FEDA became the Fund Manager of the US$1 billion AfCFTA Adjustment Fund in 2023.
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