The Fund for Export Development in Africa (FEDA), the development impact-focused subsidiary of the African Export-Import Bank (Afreximbank), has announced that the Republic of Equatorial Guinea and the Republic of Ghana have signed the FEDA Establishment Agreement. This is sequel to several months of cooperation between Afreximbank, FEDA and government officials in Equatorial Guinea and Ghana.
As Afreximbank member states, Equatorial Guinea and Ghana have taken another step towards closer collaborations with FEDA by signing the FEDA Establishment Agreement. This milestone marks the countries’ support for Afreximbank’s efforts to extend FEDA’s impact investing objectives across the continent.
New memberships are crucial to broaden the scope of FEDA’s interventions and its mission of delivering long-term capital to African economies with a focus on industrialization, intra-African trade and value-added exports.
Professor Benedict Oramah, President of Afreximbank and Chairman of the Boards of both Afreximbank and FEDA, said: “We heartily welcome the signing of the FEDA Establishment Agreement by the Republic of Equatorial Guinea and the Republic of Ghana. The signing of the FEDA Establishment Agreement lays the groundwork for an enhanced and more effective cooperation with better access to the full range of interventions offered by Afreximbank and FEDA. This milestone builds on the solid partnership already established with both Equatorial Guinea and Ghana. The aim is to support transformative investments in these countries in the near future.”