Fund for Export Development in Africa

In 2016, Fund for Export Development in Africa was initiated as Fund for the promotion of intra-African trade and industrialization and export development.{{Cite web |date=2016-11-22 |title=Afreximbank announces export development fund |url=https://www.afreximbank.com/afreximbank-announces-export-development-fund/ |access-date=2025-02-19 |website=African Export-Import Bank |language=en-US}}

FEDA was established to address the US$110 billion financing gap hindering intra-African trade, value-added export development, and the development of industrial value chains across the continent.{{Cite web |last=Independent |first=The |date=2024-03-27 |title=Afreximbank's Export Development Fund opens office in Kigali |url=https://www.independent.co.ug/afreximbanks-export-development-fund-opens-office-in-kigali/ |access-date=2025-02-19 |website=The Independent Uganda |language=en-US}} Rwanda, where FEDA is headquartered was the first country to sign the FEDA Establishment Agreement.{{Cite web |last=Kagina |first=Alice |date=2024-03-21 |title=How Rwanda will benefit from hosting Pan African Export Fund |url=https://www.newtimes.co.rw/article/15397/news/business/how-rwanda-will-benefit-from-hosting-pan-african-export-fund |access-date=2025-02-19 |website=The New Times |language=en}} São Tomé and Príncipe signed the agreement in June 2023.{{Cite web |last=apofeed |date=2023-06-16 |title=São Tomé and Príncipe Accedes to the Establishment Agreement for Afreximbank's Fund for Export Development in Africa (FEDA) |url=https://african.business/2023/06/apo-newsfeed/sao-tome-and-principe-accedes-to-the-establishment-agreement-for-afreximbanks-fund-for-export-development-in-africa-feda |access-date=2025-02-19 |website=African Business |language=en-GB}} Nigeria became the 16th country to accede the agreement in May 2024.{{Cite web |last=Udi |first=Aghogho |date=2024-05-06 |title=Nigeria becomes 16th country to sign Afrexim Bank trade development fund |url=https://nairametrics.com/2024/05/06/nigeria-becomes-16th-country-to-sign-afrexim-bank-trade-development-fund/ |access-date=2025-02-19 |website=Nairametrics |language=en-US}} Egypt and Malawi joined in September and October 2024 respectively.{{Cite web |last1=Writer |first1=Staff |last2=Finance |first2=Arab |title=Egypt joins Fund for Export Development in Africa |url=https://www.zawya.com/en/economy/north-africa/egypt-joins-fund-for-export-development-in-africa-m240k9z6 |access-date=2025-02-19 |website=www.zawya.com |language=en}}{{Cite web |last=apofeed |date=2024-10-31 |title=Malawi Accedes to the Establishment Agreement for Afreximbank's Fund for Export Development in Africa (FEDA) |url=https://african.business/2024/10/apo-newsfeed/malawi-accedes-to-the-establishment-agreement-for-afreximbanks-fund-for-export-development-in-africa-feda |access-date=2025-02-19 |website=African Business |language=en-GB}} Other members include Mauritania, Guinea, Togo, South Sudan, Zimbabwe, Kenya, Chad, Republic of the Congo, Gabon, Sierra Leone, Equatorial Guinea, Ghana.{{Cite web |title=Nigeria Joins Afreximbank's FEDA to Strengthen African Export Development – THISDAYLIVE |url=https://www.thisdaylive.com/index.php/2024/05/05/nigeria-joins-afreximbanks-feda-to-strengthen-african-export-development/ |access-date=2025-02-19 |website=www.thisdaylive.com |language=en-US}}

FEDA raised $670 million to drive different interventions aimed at developing trade in Africa.{{Cite web |last=Ashimwe |first=Edwin |date=2022-10-04 |title=Pan-African fund raises $670m to help drive value addition |url=https://www.newtimes.co.rw/article/1507/news/business/pan-african-fund-raises-670m-to-help-drive-value-addition |access-date=2025-02-19 |website=The New Times |language=en}}{{Cite web |last=Inokotong |first=Joseph |date=2022-09-27 |title=Afreximbank raises $670m for export development |url=https://tribuneonlineng.com/afreximbank-raises-670m-for-export-development/ |access-date=2025-02-19 |website=Tribune Online |language=en-GB}} FEDA led the $56 million series B round for Kobo360 in 2021.{{Cite web |last=Kene-Okafor |first=Tage |date=2022-09-14 |title=What has KOBO360 been up to in the last 2 years? |url=https://techcrunch.com/2022/09/14/what-has-kobo360-been-up-to-in-the-last-2-years/ |access-date=2025-02-19 |website=TechCrunch |language=en-US}} In October 2024, FEDA contributed $300 million investment to ARISE IPP's $443 million capital raise.{{Cite web |date=2024-10-02 |title=Fund for Export Development in Africa and Africa Finance Corporation power ARISE IIP's US$443 Million capital raise |url=https://www.afreximbank.com/fund-for-export-development-in-africa-and-africa-finance-corporation-power-arise-iips-us443-million-capital-raise/ |access-date=2025-02-19 |website=African Export-Import Bank |language=en-US}} Geregu Power Plc. announced in February 2023 that FEDA purchased 5% of its shares.{{Cite web |title=Geregu Power Plc Notifies of the Purchase of 5% Shares by The Fund for Export Development in Africa (FEDA) |url=https://proshare.co/articles/geregu-power-plc-notifies-of-the-purchase-of-5-shares-by-the-fund-for-export-development-in-africa-feda?menu=Market&classification=Read&category=Mergers%20&%20Acquisitions |archive-url=http://web.archive.org/web/20230424194414/https://proshare.co/articles/geregu-power-plc-notifies-of-the-purchase-of-5-shares-by-the-fund-for-export-development-in-africa-feda?menu=Market&classification=Read&category=Mergers%20%26%20Acquisitions |archive-date=2023-04-24 |access-date=2025-02-19 |website=proshare.co |language=en}}

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Category:Finance in Africa