The Fund for Export Development in Africa (FEDA), the investment arm of the African Export-Import Bank (Afreximbank), has appointed Emmanuel Assiak as its new Managing Director, formalising a leadership transition at a time when the institution is expanding its role in financing Africa’s industrialisation drive.
The appointment, announced on June 2 and effective retroactively from December 15, 2025, confirms Assiak in a position he had been holding in an acting capacity since late last year.
FEDA said the decision comes as the fund intensifies efforts to mobilise long-term capital for export-oriented industries, infrastructure and value-added production across the continent.
Assiak, a founding member of the institution, previously served as Chief Investment Officer and has been closely involved in shaping its investment strategy since its establishment. He brings more than three decades of experience in financial services and private equity, including senior roles at African Capital Alliance and Nigerian banks such as Zenith Bank and Continental Trust Bank.
In a statement, Afreximbank President George Elombi said Assiak’s appointment would strengthen FEDA’s ability to channel investment into strategic sectors critical to Africa’s industrial transformation and trade expansion.
“His leadership will enable FEDA to continue mobilising strategic, long-term investments to accelerate regional industrialisation and intra-African trade,” Elombi said.
Assiak said he aimed to deepen the fund’s developmental impact by attracting more international capital into Africa’s industrial and export sectors while supporting economic integration across the continent.
FEDA plays a central role in Afreximbank’s broader strategy to boost intra-African trade under the African Continental Free Trade Area (AfCFTA). The fund invests in sectors including manufacturing, logistics, infrastructure and agribusiness, which are seen as key to reducing Africa’s dependence on raw commodity exports.
The appointment comes amid growing demand for development finance across Africa, as governments seek to attract long-term investment into industrial capacity at a time of tighter global liquidity and shifting capital flows.
FEDA has increasingly positioned itself as a bridge between global investors and African projects, aiming to crowd in private capital alongside development funding to support large-scale economic transformation.
Analysts say leadership continuity at the fund could help sustain momentum in its investment pipeline as it scales up operations across regional markets.
