THE Japan Credit Rating Agency (JCR) has affirmed the African Export-Import Bank’s (Afreximbank) issuer credit rating of ‘A-’ with a stable outlook.
This endorsement underscores the bank’s pivotal role in African and Caribbean economic development and its resilience amid global macroeconomic challenges.
JCR cited Afreximbank’s strong strategic positioning, consistent profitability, and robust capital base as key factors supporting the rating. The agency also praised the bank’s prudent risk management and liquidity frameworks, which effectively mitigate risks within its operating environment.
In response to the announcement, Denys Denya, Afreximbank’s senior executive vice president, said the affirmation reinforces the bank’s credibility in global markets and highlights its systemic importance to Africa.
“JCR’s rating underscores our strong fundamentals and prudent risk management practices,” he 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 reaffirmed Afreximbank’s unwavering commitment to its member states, partners and clients, noting that its consistent delivery, even in challenging times, has been a key driver behind its strong credit standing.
“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.
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The JCR affirmation is expected to bolster confidence among investors and stakeholders, supporting Afreximbank’s ongoing efforts to expand its global funding base and enhance its market presence.
In line with this, Afreximbank successfully completed its inaugural Samurai bond issuance in Japan in 2024, raising JPY81,3 billion (US$530 million).
The transaction, which attracted strong participation from a diverse pool of Japanese institutional investors, underscored the bank’s growing appeal in international capital markets and its ability to mobilise resources beyond traditional geographies.
The success of the issuance further demonstrates Afreximbank’s credibility and capacity to secure innovative funding solutions in support of its mandate.
