“The Fund has been set up to implement Afreximbank’s Equity Investment Programme. It provides seed capital to companies operating in Africa, emphasising activities that would promote and facilitate intra-African trade, trade-related infrastructure and value-added exports, both goods, and services.
“The fund will soon be fully operational. There have been delays occasioned by the Covid-19 pandemic and the sad and untimely passing of the FEDA CEO Dr. Philip Kamau-however, business operations have progressed.”
Fund for Export Development in Africa (FEDA) was established in 2019.
FEDA is an equity investment fund and a subsidiary of Afreximbank that seeks to fund African businesses to promote intra-African trade and facilitate foreign direct investment flows into the continent’s trade and export sectors.
This strategic move is the sequel to the successful launch of the African Continental Free Trade Area (AfCFTA) agreement.