The Fund for Export Development in Africa (FEDA), Afreximbank’s impact investment arm, has made a significant investment in Bloom Africa Holdings Limited (BAHL), a regional financial services platform operating across West Africa.
BAHL, through its subsidiaries operating as Bloom Bank Africa, provides full-service commercial banking solutions across Gambia, Sierra Leone, and Liberia. Serving a diverse clientele, including retail and corporate customers, SMEs, and the public sector, BAHL emphasizes financial inclusion and trade facilitation through innovative outreach programs and accessible products.
FEDA’s investment is aimed at supporting BAHL’s expansion within the financial services sector across West Africa. This injection of capital will empower BAHL to enhance its platform and services, furthering its mission to drive economic growth and innovation in the region.
Gabriel Edgal, Director of BAHL and Group CEO of Oakwood Green Africa, expressed enthusiasm about the partnership, stating, “FEDA’s investment strengthens our operations in Gambia and aligns with our vision to replicate this success in other countries.”
Marlène Ngoyi, CEO of FEDA, emphasized the strategic significance of the investment, highlighting BAHL’s active role in advancing key Afreximbank initiatives such as the Pan-African Payment and Settlement System (PAPSS) and MANSA. Ngoyi underscored that BAHL’s growth would complement the advancement of these crucial initiatives, contributing to Africa’s trade transformation.
