The Fund for Export Development in Africa (FEDA), the equity investment arm of African Export-Import Bank (Afreximbank) (www.Afreximbank.com), has announced the appointment of Mr. Emmanuel Assiak as its Chief Executive Officer, effective 15 December 2025.
The appointment comes at a pivotal stage in FEDA’s growth, as it continues to scale its investment activities to support Africa’s export development and industrialization agenda, especially amid severe capital flight. Strong leadership will be key to advancing FEDA’s mandate to mobilize and deploy capital into export-oriented sectors aligned with Afreximbank’s strategic priorities.
Mr. Assiak brings over 30 years’ experience in financial services, including about 20 years in private equity. He has a strong track record of leading and supporting large-scale investments across African markets, with deep expertise in transaction structuring, capital deployment, and value creation. He has led investments across multiple sectors in Africa, served on several corporate boards, and successfully executed complex transactions and investor exits. His experience spans leadership, strategic partnerships, institution-building, and driving transformational investments across the continent.
He has been closely involved in FEDA’s development since inception, having served as Pioneer Director and Managing Director/Chief Investment Officer for over six years, and most recently as the interim Chief Executive Officer since November 2025.
During his tenure as Chief Investment Officer, he played a key role in establishing FEDA’s investment platforms and building its portfolio, contributing significantly to the growth and institutional development.
Prior to joining FEDA in 2019, Mr. Assiak served as Vice President and Principal at African Capital Alliance -a pan-African investment group-, and held senior roles in the Nigerian banking sector, including at Zenith Bank Plc. and Continental Trust Bank (now part of United Bank for Africa (UBA) Group).
Mr. Assiak holds a Master of Business Administration (MBA) from Manchester Business School, a Master of Science in Economics from the University of Lagos and a Bachelor of Science in Economics from the University of Cross River State (now University of Uyo). He is a Fellow of the Institute of Chartered Accountants of Nigeria and holds an executive certification in Private Equity at the Coller Institute, London Business School.
Dr. George Elombi, President and Chairman of both the Board of Directors of Afreximbank and FEDA, commented: “Mr. Assiak’s leadership, deep institutional knowledge, and understanding of Africa’s private equity market are critical to strengthening Africa’s private sector, a key driver of Africa’s intra-African trade and economic transformation. Given his track record, we expect FEDA to continue to mobilize and deploy strategic investments aimed at accelerating industrialization, value addition, and boosting export development across the continent.”
Commenting on his appointment, Mr. Emmanuel Assiak, Chief Executive Officer, FEDA said: “I extend my sincere appreciation to the Board of Directors of FEDA and Afreximbank for their continued trust and confidence. FEDA is contributing significantly to mobilizing long-term capital for Africa’s export and industrial sectors, and we will build on the established strong foundation. Together with our partners, FEDA will deepen its impact by scaling investments that unlock value, strengthen intra-African trade, and support the continent’s industrialization agenda.”
Mr. Assiak will be based in Kigali, Rwanda.
Distributed by APO Group on behalf of Afreximbank.
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About FEDA:
The Fund for Export Development in Africa (“FEDA”) is the impact investment subsidiary of Afreximbank (www.afreximbank.com), set up to provide equity, quasi-equity, and debt capital to finance the multi-billion-dollar funding gap (particularly in equity) needed to transform the Trade sector in Africa. FEDA pursues a multi-sector investment strategy along the intra-African trade, value-added export development, and manufacturing value chain which includes financial services, technology, consumer and retail goods, manufacturing, transport&logistics, agribusiness, as well as ancillary trade enabling infrastructure such as industrial parks. To date, FEDA has invested more than US$1.3 billion in companies and projects across its various fund initiatives, in sectors such as manufacturing, agro-processing, financial services, healthcare and pharmaceuticals, amongst others.
For more information, visit: www.FEDAgroup.org
About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2025, Afreximbank’s total assets and contingencies stood at over US$48.5 billion, and its shareholder funds amounted to US$8.4 billion. Afreximbank has investment grade ratings assigned by China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), GCR (A), Japan Credit Rating Agency (JCR) (A-), and. Moody’s (Baa2). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.Afreximbank.com
