African Export-Import Bank (Afreximbank) has secured a BBB+ long-term issuer credit rating and A-2 short-term issuer credit rating from S&P Global Ratings, with the ratings agency pointing to the Bank’s stronger strategic role, expanding balance sheet and growing influence in supporting African economies through periods of global shocks.
The Stable Outlook reflects S&P’s expectation that Afreximbank will continue to benefit from shareholder support, capital injections and its increasingly important role as a countercyclical lender across the continent.
S&P said the Bank’s rising policy relevance has been underpinned by rapid growth in lending activity and sustained capital support from shareholders as it expands financing for trade, industrialisation and regional integration initiatives.
“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. Between 2015 and 2025, total assets expanded to $42.3 billion from $7.1 billion, supported by shareholders’ equity increasing to $8.4 billion from $1.3 billion.”
The agency also highlighted Afreximbank’s growing role in advancing intra-African trade and supporting implementation of the African Continental Free Trade Area (AfCFTA), alongside investments in platforms designed to deepen regional economic integration.
Commenting on the rating, President and Chairman of the Board of Directors of Afreximbank, Dr George Elombi, described the assessment as validation of the Bank’s financial strength and continental relevance.
“This rating is a strong endorsement of Afreximbank’s financial strength, stability, and international credibility, and a clear affirmation of its strategic importance to — 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 added: that: “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 further referenced Afreximbank’s interventions during periods of economic disruption, including the global financial crisis, commodity price downturns, the COVID-19 pandemic and the Russia–Ukraine conflict.
The Bank recently launched a US$10 billion Gulf Crisis Response Programme aimed at cushioning African and Caribbean economies against shocks linked to tensions in the Middle East.
Beyond financing, Afreximbank has expanded trade infrastructure through initiatives including the Pan-African Payment and Settlement System, the Africa Trade Gateway and the AfCFTA Adjustment Fund as it seeks to deepen regional value chains and increase Africa’s participation in global trade.
