Uganda Joins Afreximbank’s Fund for Export-Development in Africa (FEDA) as 21st Member State
Uganda has officially joined the Fund for Export-Development in Africa (FEDA), the impact investment arm of the African Export-Import Bank (Afreximbank), becoming the 21st member state. The move is expected to enhance the country’s industrialization and export development efforts.
The signing ceremony took place in Kampala, attended by Ambassador Phillip Rukikaire, Head of Regional Peace and Security Department at the Ministry of Foreign Affairs, Uganda, and Mrs. Marlene Ngoyi, Chief Executive Officer of FEDA. Also present was Mr. Kudakwashe Matereke, Regional Director, Eastern Africa, Afreximbank.
Mrs. Ngoyi emphasized the significance of Uganda’s accession, stating, “Uganda’s decision to join FEDA demonstrates its confidence in our mission and commitment to Africa’s economic transformation. We look forward to collaborating with the Ugandan government and private sector to unlock capital for manufacturing and export-oriented sectors.”
Ambassador Rukikaire highlighted the benefits of the partnership, noting, “This marks a milestone in Uganda’s economic development. Africa needs more trade than aid, and FEDA’s investment will drive our manufacturing and export industries forward.”
Over the past four years, Afreximbank has approved over $813 million in financing for Uganda’s public and private sectors, with more than $1 billion in pending approvals. FEDA’s mission aligns with Uganda’s efforts to expand industrial capacity, increase intra-African trade, and boost value-added exports.
FEDA, established as Afreximbank’s development impact investment platform, provides equity and quasi-equity capital to businesses involved in intra-African trade, manufacturing, and export development. The Fund prioritizes sectors including financial services, technology, consumer goods, transport, logistics, agribusiness, and trade-enabling infrastructure.
