Japan Credit Rating Agency, Ltd. (JCR) has affirmed African Export-Import Bank’s (Afreximbank) A- issuer credit rating with a stable outlook.
The rating reflects JCR’s assessment of Afreximbank’s strong strategic positioning, robust risk management framework, consistent profitability, prudent liquidity policies and resilient capital base. JCR also noted the Bank’s important role in supporting trade finance and economic development across Africa and the Caribbean.
The rating agency stated that it expects Afreximbank’s rating to remain stable over the next 12 to 18 months, despite external macroeconomic challenges and potential pressures in its operating environment.
Reacting to the announcement, Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, said the affirmation reinforces the Bank’s credibility in global markets and highlights its systemic importance to Africa. “JCR’s rating underscores our strong fundamentals and prudent risk management practices,” he said. “It strengthens our ability to diversify our funding sources, including tapping into Japan’s capital markets, to further advance our mandate of promoting and financing intra- and extra-African trade.”
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Mr. Denya reaffirmed Afreximbank’s unwavering commitment to its member states, partners and clients, noting that its consistent delivery, even in challenging times, has been a key driver behind its strong credit standing. “This rating is a testament to the Bank’s resilience and strategic focus, enabling us to mobilise resources to drive trade and development in Africa and the Caribbean,” he added.
The JCR affirmation is expected to bolster confidence among investors and stakeholders, supporting Afreximbank’s ongoing efforts to expand its global funding base and enhance its market presence.
In line with this, Afreximbank successfully completed its inaugural Samurai bond issuance in Japan in 2024, raising JPY 81.3 billion (US$530 million). The transaction, which attracted strong participation from a diverse pool of Japanese institutional investors, underscored the Bank’s growing appeal in international capital markets and its ability to mobilise resources beyond traditional geographies. The success of the issuance further demonstrates Afreximbank’s credibility and capacity to secure innovative funding solutions in support of its mandate.
About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa2), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB-). Afreximbank has evolved into a group entity comprising the Bank, its equity impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com
