Uganda has officially joined the Fund for Export-Development in Africa (FEDA), the investment arm of the African Export-Import Bank (Afreximbank). This move strengthens Uganda’s efforts to attract investment for industrialization and trade expansion. With this step, FEDA now operates in 21 African countries, increasing its role in economic transformation. Uganda is set to benefit from long-term funding that will support manufacturing, trade, and exports.
A signing ceremony took place in Kampala, attended by senior officials. Ambassador Phillip Rukikaire, representing Uganda’s Ministry of Foreign Affairs, signed the agreement. Marlene Ngoyi, CEO of FEDA, and Kudakwashe Matereke, Afreximbank’s Regional Director for Eastern Africa, also participated.
Marlene Ngoyi welcomed Uganda’s decision, saying it reflects trust in FEDA’s mission. “Uganda is committed to industrialization and export-led growth. We look forward to working with the government and private sector to attract investment into key industries,” she said.
Ambassador Rukikaire stressed that Africa needs investment, not aid, for sustainable growth. “This is a major step for Uganda’s economy. By joining FEDA, we commit to a future of trade-driven development. This partnership will bring the capital we need to expand our manufacturing and exports,” he stated.
Uganda’s membership comes as more African nations join FEDA. This expansion strengthens the Fund’s ability to provide capital for trade and industrial growth. In the past four years, Afreximbank has approved over $813 million in financing for Uganda’s public and private sectors. An additional $1 billion in funding is awaiting approval.
FEDA was created by Afreximbank to support businesses involved in trade, manufacturing, and value-added exports. Its mission is to drive industrialization and intra-African trade. Uganda’s accession provides access to long-term funding, strengthening its manufacturing base and increasing its role in the African Continental Free Trade Area (AfCFTA).
As Africa moves towards economic self-sufficiency, Uganda’s decision highlights a commitment to trade-driven development rather than reliance on external aid.