China’s CCXI Affirms Afreximbank’s AAA/Stable Credit Rating, Strengthening Africa–China Trade Finance Outlook

China Chengxin International Credit Rating Co., Ltd (CCXI), one of China’s leading credit rating agencies, has reaffirmed the African Export-Import Bank’s (Afreximbank) long-term issuer credit rating at AAA with a stable outlook.

The rating underscores CCXI’s confidence in Afreximbank’s financial strength, highlighting its high strategic positioning, sound risk management framework, strong profitability, prudent liquidity management, and robust asset coverage against short-term debt obligations.

CCXI further noted that Afreximbank’s credit rating is expected to remain stable over the next 12 to 18 months, despite downside risks from global macroeconomic and operational pressures.

Responding to the announcement, Mr. Denys Denya, Afreximbank’s Senior Executive Vice President, said the AAA/Stable rating affirms the Bank’s systemic importance to Africa and validates its prudent approach to risk.

“CCXI’s rating is a remarkable achievement amid a challenging operating environment, and it is a demonstration of Afreximbank’s systemic relevance to Africa and the Caribbean, our key focus regions,” Mr. Denya stated.

He explained that the rating will enhance Afreximbank’s funding diversification opportunities, particularly in China’s Panda bond market, thereby supporting the Bank’s mandate to expand trade finance and development between Africa and China.

Mr. Denya emphasised Afreximbank’s unwavering commitment to its member states and clients across Africa and the Caribbean, “This resilient track record has significantly contributed to our formidable rating. The Chinese rating reaffirms our preferred creditor status among our 53 African member states and 13 Caribbean members.”

The rating is expected to bolster Afreximbank’s market presence in China and strengthen its credit standing globally.

Earlier this year, Afreximbank issued its landmark inaugural Panda bond in the China Interbank Bond Market, raising RMB 2.2 billion (US$303 million). The bond was oversubscribed, attracting high-quality investors and signalling strong market confidence in the Bank’s credit profile. This pioneering transaction not only diversifies Afreximbank’s funding sources in Chinese Renminbi but also establishes a benchmark for other African issuers, marking a significant milestone in deepening Africa–China financial cooperation.