Gambia has joined the establishment agreement of the Fund for Export Development in Africa (FEDA), the development impact investment arm of the African Export-Import Bank (Afreximbank).
Gambia thus becomes the 19th state to sign the FEDA agreement, marking a milestone in the recent wave of African countries joining the fund.
This strengthens FEDA's ambition to expand its scope and provide long-term capital to African economies, with a focus on industrialization, intra-African trade, and value-added exports.
Gambia's membership "strengthens our collective efforts to stimulate economic growth in the country, building on the momentum created by Afreximbank's investments in Gambia over the past few years," stated Benedict Oramah, President of Afreximbank and Chairman of the Board of the Bank and FEDA.
This addition further aligns with FEDA’s commitment to empowering African nations by facilitating capital investments in sectors critical to economic diversification and resilience. Through FEDA, Gambia will gain access to resources aimed at fostering sustainable development and boosting regional trade partnerships.
The decision to join FEDA reflects Gambia’s broader strategy to enhance its economic competitiveness and build stronger infrastructure for export-oriented industries.
With FEDA's support, the country can now pursue projects that drive value-added manufacturing and reduce reliance on raw commodity exports, contributing to job creation and sustainable growth.
FEDA continues to attract interest from African nations aiming to strengthen their participation in the African Continental Free Trade Area (AfCFTA) framework. By leveraging Afreximbank’s network and expertise, FEDA is helping member countries accelerate their industrialization agendas and support small and medium-sized enterprises (SMEs) in accessing regional and global markets.
Gambia’s membership signifies a positive step towards realizing the fund’s mission of enhancing African self-reliance and economic integration.