Gambiaj.com (BANJUL, The Gambia) – The Gambia has officially 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). With this move, The Gambia becomes the nineteenth member of FEDA, demonstrating a firm commitment to advancing economic growth through regional investment initiatives.

The Gambia’s accession to FEDA comes amid a recent wave of memberships across Africa, which have significantly strengthened the fund’s ability to mobilize long-term capital for projects focused on industrialization, intra-African trade, and value-added exports. FEDA has rapidly expanded its reach across the continent through strategic investments aimed at fostering sustainable economic development.

FEDA’s recent investments span a range of high-impact projects, including a substantial equity investment in Bloom Africa Holdings Limited (BAHL), a financial services platform that operates throughout West Africa, including in The Gambia. FEDA also invested USD 300 million into Arise Integrated Industrial Platforms (Arise IIP) in October 2024, boosting regional industrial infrastructure.

Other notable ventures include a partnership with Team Drogba in the inaugural E1 Series, the first all-electric boat racing championship, and a collaboration with Malawi to develop the Magwero Industrial Park, accelerating Malawi’s industrialization agenda.

The Gambia’s partnership with FEDA aligns with its Recovery Focused-National Development Plan (RF-NDP) 2023–2027, also known as “YIRIWAA,” a five-year blueprint for economic revitalization. Under this plan, FEDA will work alongside Gambian stakeholders to pursue investment opportunities that support sustainable growth and align with the nation’s strategic development objectives.

Afreximbank President and FEDA Chairman, Professor Benedict Oramah, expressed enthusiasm for The Gambia’s membership. “We are delighted to welcome The Republic of The Gambia as the newest member of FEDA. This accession enhances our collective efforts to drive economic growth in the country, building on the momentum created by Afreximbank’s investments in the country over the past few years,” Oramah said, highlighting the bank’s vision for collaboration and partnership in the region.

Marlène Ngoyi, CEO of FEDA, echoed this sentiment, noting that The Gambia’s entry reflects a shared commitment to fostering sustainable growth. “Our recent investment in the Gambia’s financial services sector reflects our commitment to supporting the country’s five-year development plan,” Ngoyi stated. “We are excited to collaborate with the country’s stakeholders to drive sustainable growth and explore opportunities that align with its development goals. Together, we can build a stronger, more resilient economy for the future.”

The Gambia’s accession to FEDA marks a significant milestone in the nation’s path toward economic resilience, bolstered by impactful regional partnerships and a shared vision for Africa’s development.