Afreximbank sets up USD 100 million export fund for African SMEs

Tuesday 5 February 2019 13:16 CET | News

The Fund for Export Development in Africa, a subsidiary of Afreximbank, has been set up to implement the bank’s Equity Investment Programme.

This is meant to be done by providing seed capital to companies in agri-business, manufacturing, consumer and retail, and financial services. The fund will also seek to support businesses within the technology space, travel and tourism, transport and logistics, and industrial parks.

The bank says the fund will invest across all market segments but will have its greatest focus on small and medium-sized enterprises. The Fund, which has been set up with an initial USD 100-million commitment, will also seek to leverage on the role that Egypt-based Afreximbank has played in mobilising trade finance into Africa to also mobilise foreign direct investment (FDI) into the continent.

The Fund for Export Development in Africa will be headquartered in Mauritius.

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Keywords: Afreximbank, The Fund for Export Development in Africa, trade finance fund, funding, investment fund, Africa, Egypt, small and medium sized enterprises, Equity Investment Programme
Countries: World