The Republic of The Gambia has joined the Fund for Export Development in Africa (FEDA), the development impact investment branch of the African Export-Import Bank (Afreximbank).
This addition marks The Gambia as FEDA’s 19th member, signaling its dedication to economic growth and progress in Africa.
This membership comes at a time when many African nations are joining FEDA, further expanding its impact. FEDA’s main goals include boosting industrialization and enhancing intra-African trade. It also includes promoting value-added exports.
Recent FEDA investments reflect these objectives, including support for financial services and industrialization projects across the continent.
FEDA invested notably in Bloom Africa Holdings Limited (BAHL). It is a regional financial services platform that operates in West Africa, including The Gambia.
In October, FEDA also injected USD300 million into Arise Integrated Industrial Platforms (Arise IIP). Other efforts include funding for Team Drogba in the world’s first all-electric boat racing series and collaboration with Malawi to establish the Magwero Industrial Park.
“We are delighted to welcome the Republic of The Gambia as the newest member of FEDA. This accession enhances our collective efforts to drive economic growth in the country, building on the momentum created by Afreximbank’s investments in the country over the past few years.
We look forward to further collaborations aimed at unlocking new opportunities for partnership and growth,” said Professor Benedict Oramah, President of Afreximbank and Chairman of both Afreximbank and FEDA boards.
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Part of a Broader Development Strategy
FEDA will seek more investment opportunities that align with The Gambia’s five-year development plan, the Recovery Focused-National Development Plan (RF-NDP) 2023–2027. Known as “YIRIWAA,” this plan is designed to stimulate economic progress and resilience.
Both The Gambia and FEDA share a commitment to this plan. Marlène Ngoyi, CEO of FEDA, expressed excitement about this new partnership, stating:
“We are thrilled to have The Republic of The Gambia join the Fund for Export Development in Africa (FEDA). Our recent investment in the Gambia’s financial services sector reflects our commitment to supporting the country’s five-year development plan.
“We are excited to collaborate with the country’s stakeholders to drive sustainable growth and explore opportunities that align with its development goals. Together, we can build a stronger, more resilient economy for the future.”
FEDA’s continued expansion highlights Africa’s push for economic self-sufficiency and shared growth across the continent. With The Gambia’s addition, FEDA’s presence across Africa strengthens, creating a new potential for sustainable and inclusive development.