S&P Assigns Afreximbank BBB+ Rating, Citing Strategic Role in African Trade

June 16, 2026

Mintesinot Nigussie

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 role in supporting trade, industrialisation and economic resilience across Africa.

The investment-grade rating reflects the Bank's expanding strategic importance, strong risk profile and increasing role as a countercyclical lender during periods of economic and geopolitical uncertainty, according to S&P.

The ratings agency highlighted Afreximbank's policy relevance and strong shareholder backing, pointing to its role in promoting intra-African trade, supporting implementation of the African Continental Free Trade Area (AfCFTA) and developing financial infrastructure aimed at strengthening regional integration.

S&P noted that the Bank's balance sheet has expanded significantly over the past decade. Total assets increased to 42.3 billion US dollars in 2025 from 7.1 billion US dollars in 2015, while shareholders' equity rose to 8.4 billion US dollars from 1.3 billion US dollars over the same period.

The agency said the growth was supported by sustained capital injections from shareholders and increasing demand for the Bank's financing programmes.

"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," S&P said.

The rating also reflects the institution's track record of providing financial support during major economic disruptions. S&P referenced Afreximbank's interventions during the global financial crisis, the commodity price downturn, the COVID-19 pandemic and the economic fallout from the Russia-Ukraine conflict.

More recently, the Bank launched a 10 billion US dollar Gulf Crisis Response Programme aimed at cushioning African and Caribbean economies from shocks linked to tensions in the Middle East.

Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, described the rating as recognition of the Bank's financial strength and growing international standing.

"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," he said.