Japan Credit Rating Agency, Ltd. (JCR) has reaffirmed African Export-Import Bank’s (Afreximbank) A- issuer credit rating with a stable outlook.
The decision reflects JCR’s assessment of Afreximbank’s strong strategic positioning, effective risk management, consistent profitability, prudent liquidity policies and solid capital base. The agency also highlighted the Bank’s pivotal role in advancing trade finance and economic development across Africa and the Caribbean.
JCR noted that Afreximbank’s credit rating is expected to remain stable over the next 12 to 18 months despite global economic headwinds and pressures in its operating environment.
Responding to the announcement, Mr Denys Denya, Senior Executive Vice President of Afreximbank, said the affirmation enhances the Bank’s global credibility and underlines its systemic importance to Africa. “JCR’s rating underscores our strong fundamentals and prudent risk management practices,” he stated. “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.”
Mr Denya reiterated Afreximbank’s commitment to its member states, partners and clients, stressing that consistent delivery, even under challenging conditions, has been central to its strong credit profile. “This rating is a testament to the Bank’s resilience and strategic focus, enabling us to mobilise resources to drive trade and development in Africa and the Caribbean,” he added.
The reaffirmation from JCR is expected to boost investor confidence and support Afreximbank’s efforts to expand its international funding base while strengthening its market presence.
In 2024, Afreximbank successfully completed its inaugural Samurai bond issuance in Japan, raising JPY 81.3 billion (US$530 million). The transaction attracted significant demand from a broad range of Japanese institutional investors, underscoring Afreximbank’s growing recognition in global capital markets. The success of the issuance highlights the Bank’s ability to secure innovative financing solutions in line with its mandate to drive trade and development across Africa and beyond.
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