S&P Global Ratings has assigned the African Export-Import Bank (Afreximbank) a 'BBB+' long-term credit rating and an 'A-2' short-term credit rating. The financial services firm also gave Afreximbank a Stable Outlook, showing its strong financial position.
This rating highlights Afreximbank's increasing importance and consistent role in African trade, industrialisation, and economic growth. The bank actively supports African economies during uncertain global and regional periods. It also demonstrates strong shareholder commitment and its key role in advancing the African Continental Free Trade Area (AfCFTA).
Afreximbank plays a significant role in Ghana's economic landscape by promoting intra-African trade and supporting various development projects. Data shows Ghana has engaged with Afreximbank on critical initiatives, such as advancing strategic mineral development. This partnership helps Ghana diversify its economy and integrate into broader African markets. The bank's financial strength directly impacts its ability to fund these important initiatives across the continent.
S&P Global Ratings stated the rating reflects Afreximbank’s robust enterprise risk profile. It noted the bank’s strong policy relevance and shareholder support. This support includes a growing capital base and capital injections. “Between 2015 and 2025, total assets expanded to $42.3 billion from $7.1 billion,” S&P highlighted. Shareholders’ equity also grew from $1.3 billion to $8.4 billion during this period.
Dr. George Elombi, President and Chairman of Afreximbank's Board of Directors, acknowledged the rating. He stated it is a strong endorsement of the bank's financial strength and international credibility. Dr. Elombi added that it affirms the bank's strategic importance and impact across Global Africa. He linked it to the bank's solid capital base, strong liquidity, and asset quality.
Afreximbank has a proven track record of responding to major external shocks affecting African economies. The bank provided support during the global financial crisis and the COVID-19 pandemic. It also assisted during the Russia-Ukraine conflict and other times of global uncertainty. Recently, the bank announced a US$10 billion Gulf Crisis Response Programme (GCRP). This program aims to protect African and Caribbean economies from Middle East conflict shocks.
The bank continues to strengthen systems supporting African trade and investment. These systems include the Pan-African Payment and Settlement System and the Africa Trade Gateway. It also manages the AfCFTA Adjustment Fund, trade finance facilities, and project finance. These initiatives are crucial for boosting regional economic resilience. The Stable Outlook from S&P Global Ratings indicates confidence in Afreximbank's ongoing role as a countercyclical lender. It also reflects continued shareholder support and capital increases. The bank focuses on transforming African trade by supporting industrialisation and expanding intra-African trade. It also works to strengthen regional value chains and increase Africa's participation in global trade.