csrreporters 
The Fund for Export Development in Africa (FEDA), the impact investment arm of the African Export-Import Bank (Afreximbank), has achieved a remarkable milestone, reporting a net income of $40.3 million for 2024 a 72 per cent increase from $23.4 million in 2023. This landmark performance highlights FEDA’s growing role as a catalyst for Africa’s sustainable development and private capital mobilisation.
Established in 2019, FEDA channels equity, quasi-equity, and private credit into businesses and projects with long-term impact across the continent. By the end of 2024, the fund had mobilised $573.8 million in financial investments, deploying $410 million into ventures spanning infrastructure, technology, healthcare, and even sports. Its activities demonstrate a commitment to transforming Africa’s growth landscape beyond traditional trade finance.
In 2024, Nigeria, along with Benin, Guinea-Bissau, Malawi, and the Gambia, joined FEDA, raising the total number of member states to 19. Through specialised funds, FEDA supports projects of all sizes from large industrial developments to early-stage startups. Its flagship FEDA Direct Equity Fund I has committed $270 million to scalable enterprises, including significant backing of Arise Integrated Industrial Platforms, a Pan African developer of industrial parks, and unconventional ventures such as Team Drogba, the electric boat racing initiative led by Ivorian football legend Didier Drogba.
Beyond equity, FEDA leverages debt markets through the Africa Credit Opportunities Fund (ACOF), providing $125 million in flexible financing to African businesses. Key projects include the African Medical Centre of Excellence, designed to advance healthcare delivery and research across the continent.
For startups and SMEs, FEDA’s Venture Fund has allocated $25 million, addressing long-standing gaps in patient capital access. Looking ahead, the fund plans to launch a $150 million Africa Film Fund in 2025, further supporting the continent’s creative industries, including Nollywood.
FEDA also manages Libreville Africa Holdings Limited, a $366.8 million investment vehicle with diverse African stakes, including a five per cent equity stake in Geregu Power Plc in Nigeria and a $31.3 million investment in FMCG company TND SA in Mauritania.
Bolstered by strong shareholder confidence, FEDA attracted $258.7 million in fresh capital in 2024, lifting total shareholder funds to $607 million. Service fees from strategic partnerships, such as the $20.8 million earned with Arise IIP, further reinforce its financial foundation.
FEDA’s remarkable results underscore a transformative shift in Africa’s financial ecosystem—moving from trade-focused lending toward strategic, long term investments that stimulate growth, empower communities, and create lasting developmental impact. The fund’s work exemplifies how private capital can be harnessed for meaningful, continent-wide progress, setting a benchmark for sustainable investment in Africa.
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