Uganda has become the 21st member state of the Fund for Export Development in Africa, or FEDA, a development impact investment arm of the African Export-Import Bank.
The signing ceremony took place in Kampala, attended by Ambassador Phillip Rukikaire, representing the Permanent Secretary of the Ministry of Foreign Affairs, and Mrs. Marlene Ngoyi, CEO of FEDA.
Ambassador Philip Rukikaire emphasized that Uganda’s membership in FEDA marks a significant milestone in the country’s economic development journey, reaffirming its dedication to a prosperous Africa driven by industrialization and intra-African trade.
Uganda’s membership comes amid a wave of recent accessions to FEDA, bolstering the Fund’s capacity to provide long-term capital to African economies.
This partnership is expected to provide much-needed investment to propel Uganda’s manufacturing and export sectors forward. We’ll continue to follow this story and bring you updates as more information becomes available.
