Afreximbank, African Export-Import Bank said on Friday it had terminated its credit rating relationship with Fitch Ratings, saying the process no longer reflected a proper understanding of the bank’s Establishment Agreement, mission, and mandate.
The Cairo-based bank said its business profile remains strong, supported by shareholder relationships and legal protections under its Establishment Agreement. Afreximbank holds investment-grade ratings from GCR (A), Moody’s (Baa2), China Chengxin (AAA) and Japan Credit Rating Agency (A-).
The Pan-African financial institution, supports intra- and extra-African trade, industrialisation, and the African Continental Free Trade Agreement (AfCFTA) through initiatives such as the Pan-African Payment and Settlement System and a US$10 billion AfCFTA Adjustment Fund.
At the end of 2024, Afreximbank reported total assets of over US$40.1 billion and shareholder funds of US$7.2 billion.
