{"id":28725,"date":"2024-03-26T17:23:59","date_gmt":"2024-03-26T17:23:59","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials"},"modified":"2024-03-26T18:53:06","modified_gmt":"2024-03-26T18:53:06","slug":"afreximbank-funds-have-over-450-mln-for-investment-say-officials","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials","title":{"rendered":"Afreximbank funds have over $450 mln for investment, say officials"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>Funds set up by the African Export-Import Bank (Afrexim) have more than $450 million to invest in financial services, creative industries, oil refineries and healthcare, officials said on Wednesday.<\/p>\n

The Fund For Export Development in Africa (FEDA) has raised $770 million for four funds, Marlene Ngoyi, FEDA\u2019s CEO, said in an interview at the opening of its Kigali office. It has already invested about $300 million, Afrexim\u2019s President Benedict Oramah also told Reuters.<\/p>\n

FEDA, unveiled by multilateral trade finance bank Afrexim in 2016 and which makes equity, debt and credit investments, as well as \u201cgreenfield\u201d investments in new businesses, had raised $670 million by 2022. It is targeting raising $1.3 billion in total, according to its website.<\/p>\n

\u201cAcross all of our fund strategies we\u2019re probably going to be making I would say 10 to 15 investments (this year),\u201d Ngoyi said. \u201cWe have the private credit fund that we manage. We expect to see transactions \u2013 we had four last year, we expect more this year.\u201dShe declined to disclose the size of the planned investments, but said manufacturing and logistics were other sectors of interest.<\/p>\n

FEDA\u2019s investments so far include $85 million in industrial zone developer ARISE IIP in 2022, as well as taking a minority stake in pan-African technology company Liquid Intelligent Technologies in 2021 and putting an undisclosed amount last year into the 60,000 barrel-per-day Cabinda Oil Refinery in Angola.<\/p>\n

\u201cYou are not going to see FEDA investing in minerals and metals. We have to go beyond that. But you will see FEDA investing in refineries as it has done with Cabinda refinery in Angola,\u201d said Oramah, Afrexim\u2019s head.<\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. Funds set up by the African Export-Import Bank (Afrexim) have more than $450 million to invest in financial services, creative industries, oil refineries and healthcare, officials said on Wednesday. The Fund For Export Development in Africa (FEDA) has raised $770 million for four funds, Marlene Ngoyi, FEDA\u2019s CEO, said in an interview […]<\/p>\n","protected":false},"author":84,"featured_media":28724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,243,233],"class_list":["post-28725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eritrea","tag-eritrea"],"yoast_head":"\nAfreximbank funds have over $450 mln for investment, say officials - Eritrea<\/title>\n<meta name=\"description\" content=\"Funds set up by the African Export-Import Bank (Afrexim) have more than $450 million to invest in financial services, cr ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Afreximbank funds have over $450 mln for investment, say officials\" \/>\n<meta property=\"og:description\" content=\"Funds set up by the African Export-Import Bank (Afrexim) have more than $450 million to invest in financial services, cr ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-26T17:23:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-26T18:53:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/03\/sm_1711460068.278622.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Afreximbank funds have over $450 mln for investment, say officials\",\"datePublished\":\"2024-03-26T17:23:59+00:00\",\"dateModified\":\"2024-03-26T18:53:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials\"},\"wordCount\":283,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2024\/03\/sm_1711460068.278622.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Eritrea\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/afreximbank-funds-have-over-450-mln-for-investment-say-officials\",\"name\":\"Afreximbank funds have over $450 mln for investment, say officials - 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