Afreximbank Receives ‘AAA/Stable’ Credit Rating from CCXI: A Milestone for African Multilateral Institutions

The rating is expected to remain stable over the next 12–18 months, reflecting confidence in the Bank’s operational resilience and strategic focus.

China Chengxin International Credit Rating Co., Ltd (CCXI) has assigned an ‘AAA/Stable’ credit rating to the African Export-Import Bank (Afreximbank), marking a historic milestone as the first African multilateral financial institution to achieve the highest credit rating from CCXI.

The rating, announced in Beijing on January 15, 2025, underscores Afreximbank’s strategic positioning, sound risk management, strong profitability, prudent liquidity practices, and ability to adapt and execute its developmental mandate. The recognition is included in CCXI’s 2024 Credit Rating Report, which highlights Afreximbank's role as a pivotal player in Africa's economic growth and stability.

CCXI’s assessment emphasizes:

1. Strategic Relevance: Afreximbank’s alignment with African Union initiatives and its critical role in addressing diverse economic needs across the continent.
2. Strong Profitability and Liquidity: Robust financial health, supported by a high coverage ratio of current assets to short-term debts.
3. Risk Management Excellence: A proven ability to maintain stability, even amid challenging global and regional circumstances.

The rating is expected to remain stable over the next 12–18 months, reflecting confidence in the Bank’s operational resilience and strategic focus.

Afreximbank’s Response

Reacting to the announcement, Denys Denya, Senior Executive Vice President at Afreximbank, called the rating the strongest endorsement the Bank has received from any credit rating agency. He emphasized that it positions Afreximbank as a trusted financial partner in the Chinese capital market and strengthens its capacity to raise competitively priced capital for Africa’s development.

“This rating is a testament to our systemic importance to Africa, our prudent risk management practices, and our sustained focus on liquidity and capital strength,” said Mr. Denya. He added that the recognition reinforces Afreximbank’s ability to facilitate trade and investment between Africa and China and to contribute to key African Union economic programs.

Recent Achievements and Future Plans

• Asset Growth and Shareholder Support: Afreximbank’s assets have grown by 28% (5-year CAGR) since 2019, achieving a return on average equity of 11% and maintaining a capital adequacy ratio of 25.5%. The Bank’s 2021 capital increase campaign targeted $2.6 billion by 2026, with 90% achieved within three years.
• Market Diversification: Building on the success of its 2024 Samurai bond issuance, the Bank plans to enter China’s Panda bond market in 2025, expanding its funding partnerships to support accelerated trade and investment between China and Africa.

Strengthening Africa-China Economic Ties

The ‘AAA’ rating bolsters Afreximbank’s credibility and opens opportunities for greater collaboration with Chinese funding partners. The Bank aims to leverage this recognition to deepen economic integration, support trade facilitation, and contribute to the realization of Africa’s economic potential.

With a track record of innovation and impact, Afreximbank remains committed to achieving its developmental mandate and advancing the vision of an interconnected Global Africa.

For more details, visit www.Afreximbank.com.