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Zimbabwe has ratified the Establishment Agreement of the Fund for Export Development in Africa (FEDA), a move that opens the door to long-term equity investment in the country’s mining, manufacturing and agro-processing sectors.
The ratification, announced by the Kigali-headquartered fund this week , comes alongside the accession of Senegal and Liberia to the same agreement, bringing FEDA’s total membership to 24 African states. Angola has also ratified the accord.
FEDA is the equity investment arm of the African Export-Import Bank (Afreximbank) and provides equity, quasi-equity and so-called patient capital to projects intended to advance economic diversification, regional integration and export development.
For Zimbabwe, the ratification is being presented as a signal that Harare intends to deepen its engagement with pan-African financial institutions.
The fund said its expanded membership would allow it to pursue “strategic industrial and critical mineral processing investment opportunities” in the four countries, naming logistics, agro-processing, energy, manufacturing, financial services and mineral processing as target sectors.
Zimbabwe holds some of Africa’s largest reserves of platinum group metals, lithium and gold, and has made mineral beneficiation a central plank of its industrial policy. The Government has repeatedly called for greater local processing of raw minerals before export.
“Senegal, Liberia, Angola and Zimbabwe each offer compelling opportunities for investment across strategic sectors of their economies,” said Emmanuel Assiak, chief executive of FEDA. “We look forward to translating this expanded footprint into investments that strengthen local and regional value chains.”
Dr George Elombi, president and chairman of the boards of both Afreximbank and FEDA, said the growing membership reflected African governments’ confidence in institutions “they own and control”.
FEDA’s capacity has grown sharply in recent years. Afreximbank’s commitment to the fund has risen from US$100 million to US$1.3 billion over the past five years, enabling it to widen its investment reach.
The fund’s mandate covers the intra-African trade, value-added export and manufacturing value chains, including financial services, technology, consumer goods, transport and logistics, agribusiness and industrial parks.
Afreximbank, headquartered in Cairo, reported total assets and contingencies of more than US$48.5 billion at the end of December 2025, with shareholder funds of US$8.4 billion. The bank has championed the African Continental Free Trade Agreement and operates the Pan-African Payment and Settlement System.
