S&P Global Ratings has assigned 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, citing the lender’s growing strategic importance, strong financial profile and expanding role in supporting African economies through periods of economic uncertainty.
The investment-grade rating reinforces Afreximbank’s position as one of Africa’s leading multilateral financial institutions and reflects what S&P described as a robust enterprise risk profile, strong shareholder backing and increasing policy relevance across the continent.
In its assessment, S&P highlighted Afreximbank’s role in advancing intra-African trade, supporting implementation of the African Continental Free Trade Area (AfCFTA) and developing financial and digital platforms aimed at strengthening regional integration and economic resilience.
The ratings agency pointed to the bank’s rapid growth over the past decade as evidence of its rising significance.
“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 rating comes as Afreximbank continues to expand its role as a countercyclical lender, providing financing and liquidity support to African economies during periods of global disruption.
Commenting on the rating, Afreximbank President and Chairman of the Board of Directors George Elombi said the assessment validated the institution’s financial strength and development impact across Africa and its diaspora.
“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.
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 also cited the bank’s history of responding to major economic shocks affecting African countries, including the global financial crisis, commodity market downturns, the COVID-19 pandemic and the economic fallout from the Russia-Ukraine conflict.
The lender recently launched a $10 billion Gulf Crisis Response Programme aimed at cushioning African and Caribbean economies from potential disruptions linked to conflict in the Middle East, further underscoring its role as a provider of emergency financing during periods of market stress.
Over recent years, Afreximbank has expanded its portfolio beyond traditional trade finance, developing initiatives including the Pan-African Payment and Settlement System, the Africa Trade Gateway and the AfCFTA Adjustment Fund. The institution has also increased support for project finance, trade facilitation, advisory services and capacity building across member states.
According to S&P, the Stable Outlook reflects expectations that Afreximbank will continue to benefit from strong shareholder support, regular capital increases and a strengthened role in helping African economies navigate economic volatility.
The rating is expected to support the bank’s access to international capital markets as it pursues its mandate of transforming the structure of African trade, promoting industrialisation, strengthening regional value chains and increasing the continent’s participation in global commerce.
