FEDA to acquire minority stake in Geregu Power

The Fund for Export Development in Africa (FEDA) has said that it has received internal approvals to acquire a minority stake in Geregu Power Plc.

FEDA is the development impact investment platform of African Export-Import Bank (Afreximbank) with the mandate of providing capital towards advancing intra-African trade, export development and industrialisation in Africa.

Chairman, Board of Directors, Geregu Power Plc, Femi Otedola stated that as the pioneer power generation company on the Nigerian Exchange Limited (NGX), the interest shown by FEDA is an expression of its firm belief not only in the company but also in the future of the Nigerian Electricity Supply Industry (NESI).

“In a period of contracting economic activity globally, to attract this investment from FEDA is testament to our long-term strategic plans and will accelerate our expansion to the wider West African Market”

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