The African Export-Import Bank (Afreximbank) and South Africa’s Industrial Development Corporation (IDC) have signed a strategic agreement to support an $8 billion financing programme aimed at accelerating industrial development, regional value chains and trade across Africa.
The memorandum of understanding (MoU) will combine Afreximbank’s continental trade finance capabilities with the IDC’s experience in funding South African businesses, with a focus on priority sectors including manufacturing, agriculture and agro-processing, mining, renewable energy and infrastructure.
Under the three-year renewable framework, the two institutions will jointly identify, develop and monitor eligible trade and investment projects while mobilising co-financing and advisory support to unlock commercially viable opportunities.
The partnership follows the announcement of a $14 billion Country Programme between Afreximbank and the South African government aimed at supporting the country’s industrial, trade and development priorities.
Afreximbank President and Chairman of the Board of Directors, Dr George Elombi, said the agreement strengthens efforts to advance Africa’s industrialisation agenda and deepen economic integration under the African Continental Free Trade Area (AfCFTA).
“This strategic partnership with IDC reinforces Afreximbank’s commitment to advancing Africa’s industrialisation and trade agenda. By combining our expertise, resources, and networks, Afreximbank and the IDC will unlock new opportunities for financing, investment, and capacity building across the continent. Through this collaboration, we aim to support critical sectors and drive sustainable economic growth. Ultimately, this partnership represents a major step toward achieving the objectives of the AfCFTA. Together, we are building a more resilient and competitive African economy,” Dr Elombi said.
The agreement establishes a preferred financial partnership arrangement under which Afreximbank and IDC will prioritise each other in eligible transactions and collaborate on trade and project financing, research, capacity building, staff exchanges and knowledge sharing.
The institutions will also use digital trade platforms, including the Pan-African Payment and Settlement System (PAPSS), MANSA and the Africa Trade Gateway, to improve cross-border payment systems and trade efficiency.
IDC Chief Executive Officer, Ms Mmakgoshi Lekhethe, said the partnership would provide a framework to combine the institutions’ strengths in identifying and financing projects with significant economic impact.
“This MoU creates a practical framework through which the IDC and Afreximbank can combine their respective strengths to identify and finance high-impact projects. The IDC brings extensive local market knowledge and experience in supporting South African businesses, while Afreximbank provides significant trade finance capabilities, continental reach and access to innovative trade-enabling platforms,” Ms Lekhethe said.
The collaboration builds on South Africa’s accession to the Establishment Agreement of Afreximbank in February 2026 and aims to strengthen the country’s trade and investment links with other African economies.
Afreximbank and IDC said the initiative will support industrial competitiveness in South Africa while contributing to increased intra-African trade flows and the broader implementation of the AfCFTA.
