Afreximbank’s A-/Stable Rating Affirmed by Japan Credit Rating Agency
The African Export-Import Bank (Afreximbank) has had its A- issuer credit rating with a stable outlook reaffirmed by the Japan Credit Rating Agency (JCR), highlighting the institution’s financial strength and strategic role in advancing African trade and development.
According to JCR, the rating reflects Afreximbank’s robust risk management, consistent profitability, prudent liquidity policies and resilient capital base. The agency also highlighted the Bank’s pivotal role in supporting trade finance and economic development across Africa and the Caribbean. Despite external macroeconomic pressures, JCR expects the rating to remain stable over the next 12 to 18 months.
Responding to the announcement, Denys Denya, Senior Executive Vice President of Afreximbank, said the affirmation reinforced the Bank’s credibility in global markets.
“JCR’s rating underscores our strong fundamentals and prudent risk management practices. It strengthens our ability to diversify funding sources, including tapping into Japan’s capital markets, to further advance our mandate of promoting and financing intra- and extra-African trade,” he noted.
Mr Denya reaffirmed Afreximbank’s commitment to its member states, partners and clients, stressing that resilience and strategic focus had underpinned its performance.
“This rating is a testament to the Bank’s consistent delivery, even in challenging times, enabling us to mobilise resources to drive trade and development in Africa and the Caribbean,” he added.
The rating affirmation comes on the back of Afreximbank’s successful Samurai bond issuance in Japan in 2024, which raised JPY 81.3 billion (US$530 million). The transaction attracted strong participation from Japanese institutional investors and demonstrated Afreximbank’s growing appeal in international capital markets.
Founded over 30 years ago, Afreximbank continues to play a central role in financing intra-African trade and industrialisation. Its initiatives include the Pan-African Payment and Settlement System (PAPSS) and a US$10 billion Adjustment Fund to support implementation of the African Continental Free Trade Agreement (AfCFTA).
At the end of December 2024, the Bank’s total assets and contingencies stood at more than US$40.1 billion, with shareholder funds amounting to US$7.2 billion. Afreximbank maintains investment grade ratings from GCR (A), Moody’s (Baa2), CCXI (AAA), JCR (A-) and Fitch (BBB-).
