CAIRO, Egypt (Chatnewstv.com) — Japan Credit Rating Agency (JCR) has affirmed the African Export-Import Bank’s long-term issuer rating at A- with a stable outlook, citing strong fundamentals and a resilient capital base despite global economic headwinds.
The decision reflects JCR’s view of Afreximbank’s “strong strategic positioning, robust risk management framework, consistent profitability, prudent liquidity policies and resilient capital base.” The agency said it expects the rating to remain stable over the next 12 to 18 months.
JCR also highlighted the Bank’s role in financing trade and development across Africa and the Caribbean.
Denys Denya, Afreximbank’s senior executive vice president, said the affirmation strengthens the Bank’s ability to attract international capital.
“JCR’s rating underscores our strong fundamentals and prudent risk management practices,” Denya 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.”
Denya said the rating reflects Afreximbank’s consistent performance in challenging environments. “This rating is a testament to the Bank’s resilience and strategic focus, enabling us to mobilize resources to drive trade and development in Africa and the Caribbean,” he said.
The affirmation is expected to boost investor confidence as the Bank expands its global funding base. In 2024, Afreximbank completed its inaugural Samurai bond issuance in Japan, raising ¥81.3 billion ($530 million) from a diverse group of institutional investors.
Founded in 1993 and headquartered in Cairo, Afreximbank reported total assets and contingencies of more than $40.1 billion and shareholder funds of $7.2 billion at the end of 2024. The Bank also manages a $10 billion adjustment fund to support implementation of the African Continental Free Trade Agreement.
