Afreximbank’s FEDA names Emmanuel Assiak new CEO

The Fund for Export Development in Africa (FEDA), the impact investment and private equity arm of Afreximbank, has announced the appointment of Emmanuel Assiak as its Chief Executive Officer (CEO), effective December 15, 2025.

The appointment comes at a critical stage in FEDA’s growth journey as the institution expands its efforts to mobilize long-term capital for Africa’s export-oriented industries and industrialization agenda. With the continent facing persistent capital flight and financing gaps across key sectors, FEDA’s leadership transition is expected to play an important role in advancing Africa’s economic transformation objectives.

 Assiak brings more than 30 years of experience in financial services, including nearly two decades in private equity and investment management across African markets. Over the course of his career, he has built a strong track record in transaction structuring, capital deployment, portfolio management, and value creation. His experience spans leadership, strategic partnerships, institution building, corporate governance, and investment execution across multiple sectors in Africa.

 The new CEO has been closely involved in FEDA’s development since its inception. He served as Pioneer Director and Managing Director/Chief Investment Officer for more than six years and most recently held the position of Interim Chief Executive Officer following his appointment in November 2025. During his tenure as Chief Investment Officer, he played a central role in establishing FEDA’s investment platforms and building its portfolio, contributing significantly to the institution’s growth and development. Before joining FEDA in 2019, Assiak served as Vice President and Principal at African Capital Alliance, one of Africa’s leading private equity investment groups.

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Earlier in his career, he held senior positions within Nigeria’s banking sector, including roles at Zenith Bank Plc and Continental Trust Bank, which later became part of United Bank for Africa (UBA) Group. 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 known as the University of Uyo. He is also a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and holds an Executive Certification in Private Equity from the Coller Institute at London Business School.

Commenting on the appointment, Dr. George Elombi, President of Afreximbank and Chairman of the Boards of Directors of both Afreximbank and FEDA, said Assiak’s leadership, deep institutional knowledge, and understanding of Africa’s private equity market would be critical to strengthening Africa’s private sector and advancing intra-African trade and economic transformation.

Elombi added that, given Assiak’s track record, FEDA is expected to continue mobilizing and deploying strategic investments aimed at accelerating industrialization, promoting value addition, and boosting export development across the continent. In his response, Assiak thanked the Boards of FEDA and Afreximbank for their confidence in his leadership. He emphasized that FEDA has already established a strong foundation in mobilizing long-term capital for Africa’s industrial and export sectors and said the organization would continue to deepen its impact through investments that unlock value, strengthen intra-African trade, and support the continent’s industrialization agenda. Assiak will be based in Kigali, Rwanda, where he will lead FEDA’s next phase of growth and investment expansion across Africa.

The appointment comes as African economies increasingly seek sustainable financing solutions to boost industrial production, increase exports, and reduce dependence on commodity-driven growth. As the investment arm of Afreximbank, FEDA plays a strategic role in supporting businesses and sectors capable of driving economic transformation across the continent.