Uganda has officially joined the Fund for Export-Development in Africa (FEDA), the investment arm of the African Export-Import Bank (Afreximbank), becoming the 21st member state.
The move is expected to enhance Uganda’s industrialization efforts and strengthen intra-African trade.
The signing ceremony, held in Kampala, was attended by Ambassador Phillip Rukikaire, Head of the Regional Peace and Security Department at Uganda’s Ministry of Foreign Affairs, alongside FEDA CEO Mrs. Marlene Ngoyi and Afreximbank’s Regional Director for Eastern Africa, Mr. Kudakwashe Matereke.
Mrs. Ngoyi emphasized the significance of Uganda’s accession, stating, “Uganda’s decision to join FEDA reflects its confidence in our mission and its commitment to Africa’s economic transformation.
We look forward to working with the Ugandan government and private sector to mobilize investment in manufacturing and export-driven industries.”
Ambassador Rukikaire echoed these sentiments, describing the partnership as a critical step in Uganda’s economic journey.
“Africa needs more trade than aid. By joining FEDA, Uganda is reaffirming its commitment to industrialization and regional trade, which will drive sustainable development,” he said.
Uganda’s membership comes amid a broader expansion of FEDA, which aims to provide long-term capital to African economies.
Afreximbank has already approved over $813 million in financing for Uganda’s public and private sectors, with an additional $1 billion in the pipeline.
FEDA was established to support intra-African trade, value-added exports, and industrialization.
Uganda’s accession marks another milestone in the country’s efforts to attract investment and drive economic growth within Africa’s evolving trade landscape.
