Uganda Joins Afreximbank's Feda as 21st Member State

Uganda has officially joined the Fund for Export-Development in Africa (Feda),marking a significant step in the country’s economic transformation and its commitment to industrialization and value-added export development across Africa.

The signing of Feda's Establishment Agreement took place in Kampala, further bolstering the Fund’s presence on the continent and bringing its membership to 21 states.

The signing ceremony, which took place in the Ugandan capital, was attended by key figures, including Ambassador Phillip Rukikaire, head of the Regional Peace and Security Department at Uganda’s Ministry of Foreign Affairs, and Ms Marlene Ngoyi, chief executive Officer of Feda.

Mr. Kudakwashe Matereke, regional Director for Eastern Africa at Afreximbank, was also present to witness the historic occasion.

Ms Ngoyi expressed the significance of Uganda’s membership, emphasizing that the country’s decision to join Feda reflects confidence in the Fund’s mission to drive Africa’s economic transformation.

“Uganda’s accession to Feda is a testament to the country’s commitment to accelerating industrialisation, value-added export development, and economic transformation. We look forward to working closely with the Government of Uganda and its private sector to unlock the region’s immense potential,” she said.

Ambassador Rukikaire, speaking at the event, highlighted Uganda’s dedication to a prosperous Africa.

“By joining Feda, we reaffirm our commitment to driving industrialisation and intra-African trade,” he said.

“Africa needs more trade than aid, and through this partnership, Uganda’s manufacturing and export sectors will receive the investment needed to propel us forward.”

Uganda’s entry into Feda comes as the Fund continues to expand, with recent accessions strengthening its capacity to provide long-term capital to African economies.

In the past four years, Afreximbank has approved more than $813 million in financing for Uganda’s public and private sectors, with a pipeline of over $1 billion in pending approvals.

Feda, which operates as the development impact investment arm of Afreximbank, was established to provide equity and quasi-equity capital to companies involved in intra-African trade and export development.

With a focus on industrialization, value-added exports, and intra-African trade, Feda seeks to bridge the funding gap in Africa's trade sector.

The Fund's multi-sector investment strategy spans across financial services, technology, agribusiness, manufacturing, transport, and logistics, as well as trade-enabling infrastructure such as industrial parks.

As Feda continues to grow, its impact on African economies is poised to deepen, with Uganda now joining a network of member states working toward sustainable development across the continent.