The search to broaden the scope of interventions by the Fund for Export-Growth in Africa (FEDA), African Export-Import Financial institution’s (Afreximbank) (www.Afreximbank.com) growth influence funding arm, into all corners of the continent reached a significant milestone as we speak with the signing of the Fund’s Institution Settlement by Uganda. With Uganda’s accession, FEDA expands its presence to 21 member states, reinforcing its position as a key participant in shaping Africa’s financial future.
The signing ceremony, held in Kampala, was attended by Ambassador Phillip Rukikaire, Head of Regional Peace and Safety Division on the Ministry of Overseas Affairs, Uganda, who represented the Everlasting Secretary, Ministry of Overseas Affairs, and Mrs. Marlene Ngoyi, Chief Government Officer of FEDA. Mr. Kudakwashe Matereke, Regional Director, Japanese Africa, Afreximbank, witnessed this historic occasion.
Commenting on the ceremony, Mrs. Marlene Ngoyi, CEO of FEDA, highlighted the importance of Uganda’s accession:
“Uganda’s resolution to hitch FEDA is a testomony to the nation’s confidence in FEDA’s mission and to its dedication to accelerating Africa’s financial transformation, value-added export growth and industrialization. We look ahead to deepening our engagements with the Authorities of Uganda and the personal sector to mobilize capital and to put money into the manufacturing and export-related sectors and unlock the immense potential of the area for sustainable growth,” she added.
Ambassador Philip Rukikaire emphasised the significance of Uganda’s membership in FEDA, stating: “At the moment marks a big milestone in Uganda’s financial growth journey. By becoming a member of FEDA, we reaffirm our dedication to a affluent Africa, pushed by industrialization and intra-African commerce. Africa wants extra commerce than support, and this partnership will present the much-needed funding to propel our manufacturing and export sectors ahead.”
Uganda’s membership comes amid a wave of current accessions to FEDA, bolstering the Fund’s capability to supply long-term capital to African economies. Over the previous 4 years, Afreximbank has authorized over $813 million in financing for Uganda’s private and non-private sectors, with a pipeline in exceeding US$ 1 billion in pending approvals.
FEDA was arrange as the event influence funding platform of Afreximbank with a mandate to implement fairness funding throughout Africa. Its main goal is to supply developmental fairness and quasi-equity capital to firms which are concerned in intra-African commerce and export growth/manufacturing in Africa, with a deal with industrialisation, intra-African commerce and value-added exports.
Distributed by APO Group on behalf of Afreximbank.
Media Contact:
Vincent Musumba
Communications and Occasions Supervisor (Media Relations)
E-mail: press@afreximbank.com
Margaret Kafeero,
Head of Public Diplomacy, Ministry of Overseas Affairs, Uganda
E-mail: margaret.kafeero@mofa.go.ug
About FEDA:
The Fund for Export Growth in Africa (“FEDA”) is the influence funding subsidiary of Afreximbank (www.Afreximbank.com), set as much as present fairness, quasi-equity, and debt capital to finance the multi-billion-dollar funding hole (notably in fairness) wanted to remodel the Commerce sector in Africa. FEDA pursues a multi-sector funding technique alongside the intra-African commerce, value-added export growth, and manufacturing worth chain which incorporates monetary providers, expertise, shopper and retail items, manufacturing, transport&logistics, agribusiness, in addition to ancillary commerce enabling infrastructure equivalent to industrial parks.
