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Afreximbank launches US$100mn equity investment fund for export development: The #AfricanExportImportBank (#Afreximbank) has set up a new #fund that will provide seed capital to exporters in Africa. The Fund for Export Development in Africa (FEDA), a development-oriented subsidiary of the bank, has been launched with an initial US$100mn commitment from Afreximbank. It expands the bank’s offerings to include equity investments, says Benedict Oramah, chairman of the fund and president of Afreximbank. The #Mauritius -headquartered fund is tasked with implementing Afreximbank’s equity #investment programme by providing #seedcapital to companies within a range of sectors, including #agriculture, #manufacturing, #consumer and #retail, #financialservices, #technology, #travel and #tourism, #transport and #logistics, and #industrialparks. It will specifically target SMEs and activity that supports intra-African trade and value-added exports. The fund will also provide related financial, non-financial and support services. FEDA’s aim is to invest US$10mn and raise a further US$450mn in #foreigndirectinvestment by the end of the year. https://lnkd.in/desH6eP #Africa #OneAfrica #igkenya #igersnairobi #TheAfricaWeWant #AfricaRising #AU #AfCFTA #Agenda2063 #AfricaMustUnite #IAmTheSonOfAfrica
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