S&P Global Ratings has assigned the 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, reinforcing the bank’s strong financial standing.
According to S&P, the rating reflects Afreximbank’s growing strategic importance, robust enterprise risk profile and expanding role as a countercyclical institution supporting African economies during periods of global and regional uncertainty.
The ratings agency highlighted the bank’s strong policy relevance and shareholder support, underscoring its critical role in advancing intra-African trade, supporting the implementation of the African Continental Free Trade Area (AfCFTA), and developing transformative platforms and solutions that strengthen regional integration and economic resilience.
S&P noted that Afreximbank’s strong track record in delivering on its mandate underscores its strategic importance.
“Afreximbank’s policy relevance has improved in recent years, as demonstrated by significant lending growth and shareholder support through a growing capital base supported by capital injections,” the agency said according to a statement released on Monday.
Between 2015 and 2025, total assets expanded to US$42,3 billion from US$7,1 billion, supported by shareholders’ equity increasing to US$8,4 billion from US$1,3 billion.
Commenting on the rating, Afreximbank president and chairman of the board of directors George Elombi said it was a strong endorsement of the institution’s financial strength, stability and international credibility, as well as a clear affirmation of its strategic importance and impact across Global Africa.
“It 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,” he said.
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“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 deliberate, bold, courageous and decisive action by the continent itself, working with its diaspora.”
S&P Global Ratings also referenced Afreximbank’s role in responding to major external shocks affecting African economies.
These include the global financial crisis, the commodity price downturn, the Covid-19 pandemic, the Russia-Ukraine conflict and other periods of heightened global uncertainty.
In line with this role, the bank recently announced a US$10 billion Gulf Crisis Response Programme (GCRP) aimed at shielding African and Caribbean economies from shocks arising from the Middle East conflict.
Afreximbank has continued to strengthen the systems required to support African trade and investment, including the Pan-African Payment and Settlement System, the Africa Trade Gateway, the AfCFTA Adjustment Fund, trade finance facilities, project finance, institutional support and advisory services.
The stable outlook reflects S&P Global Ratings’ view of Afreximbank’s strengthened role as a countercyclical lender in Africa, ongoing shareholder support and successive capital increases.
Afreximbank remains focused on delivering its mandate to transform the structure of African trade by supporting industrialisation, expanding intra-African trade, strengthening regional value chains and increasing Africa’s participation in global trade.
