In just five years, the Fund for Export Development in Africa (FEDA) has transformed from Afreximbank’s ambitious idea into a powerhouse of African investment.
Closing 2024 with a net income of $40.3 million—a 72% leap from 2023—FEDA demonstrates its growing influence in shaping the continent’s economic future.
Strategic Investments Across Sectors
Founded in 2019, FEDA channels equity, quasi-equity, and private credit into projects that promise long-term impact.
By the end of 2024, it had expanded its investments to $573.8 million, deploying $410 million across sectors such as infrastructure, technology, healthcare, and sports.
That same year, Nigeria, Benin, Guinea-Bissau, Malawi, and The Gambia joined, increasing FEDA’s membership to 19 states.
FEDA operates through specialised funds.
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Its flagship, FEDA Direct Equity Fund I, has raised $270 million and supports scalable businesses like Arise Integrated Industrial Platforms (IIP).
In addition, it has invested in unconventional ventures, including Team Drogba, the electric boat racing team led by Didier Drogba.
Meanwhile, the Africa Credit Opportunities Fund (ACOF) has mobilised $125 million to provide flexible debt financing for projects such as the African Medical Centre of Excellence.
Furthermore, the Venture Fund offers $25 million in patient capital to support early-stage SMEs.
Looking Ahead: Innovation And Expansion
FEDA plans to launch a $150 million Africa Film Fund to nurture creative industries, including Nollywood, while Libreville Africa Holdings maintains strategic investments across the continent.
With $258.7 million in fresh capital, FEDA has lifted total shareholder funds to $607 million, reinforcing its strategy to move Africa from trade-focused lending toward long-term equity and private capital that drives sustainable growth.
