S&P Global Ratings has assigned the African Export-Import Bank (Afreximbank) a BBB+ investment-grade rating. It said the latest rating underscored the major lender’s growing strategic importance in supporting African economies amid global economic uncertainty.

The global credit rating agency also projected a stable outlook, indicating that Afreximbank will maintain its financial stability while supporting economic development across Africa and beyond.

It said Afreximbank received the rating based on its strong enterprise risk profile and its growing role in supporting countries facing economic shocks and regional and global uncertainty.

The ratings highlighted Afreximbank’s role amid global disruptions, including the COVID-19 pandemic and the Russia-Ukraine war.

The ratings agency also noted the bank’s shareholder support and role in facilitating inter-country trade across the continent, backing the African Continental Free Trade Area (AfCFTA) and establishing platforms for regional integration.

“Afreximbank’s policy relevance has improved in recent years, as demonstrated by significant lending growth and shareholder support through a growing capital base supported by capital injections,” the agency said.

It noted that the bank’s total assets grew from $7.1 billion to $42.3 billion between 2015 and 2025, while shareholders’ equity rose from $1.3 billion to $8.4 billion.

George Elombi, president and chairman of the Board of Directors of Afreximbank, commended the rating, noting that it affirms the bank’s credibility and importance across Africa.

“It reflects the bank’s solid capital base, strong liquidity, the quality of its assets, and, in particular, the unwavering belief in the institution by African states and authorities,” Mr Elombi said in a statement on Monday.

The bank noted its US$10 billion Gulf Crisis Response Programme (GCRP) aimed at cushioning African and Caribbean economies from shocks caused by the Middle East crisis.

“Afreximbank remains focused on delivering its mandate to transform the structure of African trade by supporting industrialisation, expanding intra-African trade, strengthening regional value chains, and increasing Africa’s participation in global trade,” the statement added.