In a significant move towards bolstering African export development, Nigeria has officially become a member of the Fund for Export Development in Africa (FEDA). This marks a pivotal moment as Nigeria becomes the 16th nation to accede to the Establishment Agreement of FEDA, the development impact investment platform operated by the African Export-Import Bank (Afreximbank).
The decision underscores the growing support for FEDA among African nations, highlighting its increasing relevance in the region’s economic landscape. Nigeria’s accession to the Agreement follows three decades since the establishment of Afreximbank in the country, showcasing Nigeria’s enduring commitment to advancing Afreximbank and FEDA’s shared goals.
FEDA, which focuses on delivering long-term capital to African economies with an emphasis on industrialization, intra-African trade, and value-added exports, views new memberships as crucial to expanding its interventions. The signing of the FEDA Establishment…
Source: Leadership Newspaper
