Online Reporter
Business Reporter
S&P Global Ratings has assigned African Export-Import Bank (Afreximbank) a ‘BBB+’ long-term issuer credit rating and an ‘A-2′ short-term issuer credit rating, with a Stable Outlook, reaffirming the multilateral lender’s financial standing and strategic importance to the continent.
The rating agency cited the Bank’s growing policy relevance, robust enterprise risk profile and expanding role as a countercyclical institution supporting African economies through periods of global uncertainty.
S&P noted that Afreximbank’s total assets expanded to US$42,3 billion by the end of 2025, up from US$7,1 billion in 2015, while shareholders’ equity increased to US$8,4 billion from US$1,3 billion over the same period, reflecting significant shareholder backing and capital injections.
The agency highlighted the bank’s critical role in advancing intra-African trade and supporting implementation of the African Continental Free Trade Area (AfCFTA), as well as its development of transformative platforms including the Pan-African Payment and Settlement System (PAPSS) and the AfCFTA Adjustment Fund.
Dr George Elombi, president and chairman of the board of directors of Afreximbank, described the rating as a “strong endorsement” of the institution’s financial strength and international credibility.
“This rating reflects the bank’s solid capital base, strong liquidity, the quality of its assets, and, in particular, the unwavering belief in the institution by African states and authorities,” Dr Elombi said.
He added: “The events of recent years, and the last two years in particular, underscore a central lesson: much as the struggle for independence, the pursuit of Africa’s economic change will not be handed to us. It demands a deliberate, bold, courageous and decisive action by the continent itself, working with its diaspora.”
S&P also referenced Afreximbank’s responsiveness to major external shocks affecting African economies, including the global financial crisis, the commodity price downturn, the COVID-19 pandemic, and the Russia-Ukraine conflict.
The bank recently announced a US$10 billion Gulf Crisis Response Programme (GCRP) to shield African and Caribbean economies from the shocks of the Middle East conflict.
The Stable Outlook reflects S&P’s view of Afreximbank’s strengthened role as a countercyclical lender in Africa, ongoing shareholder support and consecutive capital increases.
The rating comes nearly 12 years after S&P’s last assessment of the Bank and places Afreximbank in investment-grade territory, facilitating access to international capital markets.
The Bank already holds investment-grade ratings from China Chengxin International Credit Rating Co., Ltd (AAA), GCR (A), Japan Credit Rating Agency (A-), and Moody’s (Baa2).
