The Fund for Export Development in Africa (FEDA), the impact investment arm of the African Export-Import Bank (Afreximbank), has announced the appointment of Emmanuel Assiak as its permanent Managing Director.
The strategic decision, made public on June 2, 2026, takes effect retroactively from December 15, 2025. This leadership appointment comes at a critical stage in FEDA’s development, as the fund actively steps up investments aimed at supporting Africa’s industrialization and expanding the continent’s overall export capacity. Against a global backdrop of rising financing needs and significant capital outflows, the institution seeks to aggressively strengthen its role in backing strategic sectors across Africa.
Emmanuel Assiak brings more than 30 years of seasoned experience in financial services to the position, including nearly two decades spent specifically in private equity. As a dedicated specialist in financial structuring and capital deployment, he has successfully led numerous high-profile investment transactions across Africa and supported vital infrastructure projects in multiple sectors. A member of FEDA’s original founding team, Assiak has played a central role in building the fund’s core investment platforms and shaping its diverse portfolio. After serving as the institution’s Chief Investment Officer for over six years, he had been acting as the interim Managing Director since November 2025.
Before initially joining FEDA in 2019, Assiak served as Vice President and Senior Partner at African Capital Alliance. He also built a strong foundation in the West African financial sector by holding senior management positions in the Nigerian banking industry, including prominent roles at Zenith Bank and Continental Trust Bank, which is now part of the United Bank for Africa (UBA) group. Academically, he holds an MBA from Manchester Business School alongside economics degrees from both the University of Lagos and Cross River State University, and he is a recognized Fellow of the Institute of Chartered Accountants of Nigeria.
Afreximbank President George Elombi warmly welcomed the formal appointment, noting that Assiak’s leadership will enable FEDA to continue mobilizing strategic, long-term investments to accelerate regional industrialization, local value creation, and the broad development of intra-African trade. In response to his official confirmation, Emmanuel Assiak stated that he aims to substantially strengthen the fund’s overall developmental impact by mobilizing more international capital for industrial and export-oriented sectors, while firmly supporting Africa’s ongoing economic integration.
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