Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Finance

Afreximbank launches a $100 million fund to support African SMEs

Wednesday, 06 February 2019 15:34
Afreximbank launches a $100 million fund to support African SMEs

(Ecofin Agency) - Afreximbank announced the launch of its fully-owned Mauritius-based $100 million Fund for Export Development in Africa (FEDA). It is aimed at supporting African SMEs to make them well-functioning for export.

It will offer seed funding to eligible companies to help them attract more funds and investors. The funds’ managing director Philip Kamau, thinks that this is the beginning of a solution to the deficit of SMEs financing which is presented as the main barrier to trade with African countries.

This year, $10 million is to be invested in the continent. The targeted sectors are agribusiness, the manufacturing industry, retailing, financial services, technology, tourism, transport and logistics. In the long term, the FEDA expects to attract $450 million of foreign direct investments.

Chamberline Moko





 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.