Afreximbank’s A-/Stable rating affirmed by Japan’s JCR

The Japan Credit Rating Agency (JCR) has reaffirmed the African Export-Import Bank’s (Afreximbank) A- issuer credit rating with a stable outlook, citing the bank’s strong financial and operational fundamentals.

JCR said the rating reflects Afreximbank’s strategic positioning, robust risk management framework, consistent profitability, and resilient capital base. The agency also acknowledged the bank’s critical role in supporting trade finance and economic development across Africa and the Caribbean.

According to JCR, Afreximbank’s outlook is expected to remain stable over the next 12 to 18 months, despite global macroeconomic uncertainties and challenges in its operating environment.

Reacting to the announcement, Mr. Denys Denya, Senior Executive Vice President of Afreximbank, described the rating as an endorsement of the bank’s credibility in global markets.

“JCR’s rating underscores our strong fundamentals and prudent risk management practices,” Denya said. “It strengthens our ability to diversify funding sources, including tapping into Japan’s capital markets, to further advance our mandate of promoting and financing intra- and extra-African trade.”

He reaffirmed Afreximbank’s commitment to member states, partners and clients, noting that the bank’s resilience and consistent performance in challenging times had been instrumental in maintaining its strong credit standing.

The reaffirmation is expected to boost investor confidence and support Afreximbank’s efforts to broaden its global funding base.

The bank’s growing presence in Japan’s capital markets was highlighted by its inaugural Samurai bond issuance in 2024, which raised JPY 81.3 billion (US$530 million) from a wide range of Japanese institutional investors. The transaction demonstrated Afreximbank’s ability to mobilise resources from diverse geographies in support of its mandate to drive trade and development across Africa and the Caribbean.