Gabon, Sierra Leone adhere to Fund for Export Development in Africa

Gabon and Sierra Leone have become member of the Fund for Export Development in Africa (FEDA), the impact investment arm of the African Export-Import Bank (“Afreximbank”), set up to support intra-African trade growth, value-add export development, and industrialization.

“The accession of these two countries is a crucial step in strengthening its ability to provide significant support to African economies and to achieve its objectives effectively,” Afreximbank said in a statement.

FEDA described the accession by the two countries as a significant milestone, which will strengthen its ability to provide crucial support to African economies and achieve its objectives effectively.

The new memberships expand the reach of FEDA’s interventions and reflect the Fund’s unwavering commitment to its mandate of providing long-term capital to African economies with a focus on industrialization, intra-African trade, and value-added exports.

Gabon has set up a Special Economic Zone (GSEZ). The zone developed by Arise IIP focused on the timber industry, has enabled Gabon to transition from a mere log exporter to a leading global producer and exporter of veneer.

Sierra Leone also partnered with Arise IIP to establish a Special Economic Zone in the country, further strengthening FEDA’s objective of promoting industrialization on the continent.

The Fund for Export Development in Africa is the impact investment subsidiary of Afreximbank set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the Trade sector in Africa.

FEDA pursues a multi-sector investment strategy along the intra-African trade, value-added export development, and manufacturing value chain which includes financial services, technology, consumer and retail goods, manufacturing, transport & logistics, agribusiness, as well as ancillary trade enabling infrastructure such as industrial parks.