Cairo, Egypt – The African Export-Import Bank (Afreximbank) has issued a statement in response to the recent Fitch Ratings report, reaffirming its strong financial position, rigorous risk management framework, and adherence to international reporting standards.
Fitch Ratings, in its June 4, 2025, assessment, acknowledged Afreximbank’s “strong capitalization,” including its “strong equity to assets and guarantees ratio” and “excellent internal capital generation.” The report also highlighted the Bank’s “high level of collateral and credit risk mitigants,” as well as its substantial provisions on sovereign exposures, which reduce potential financial risks.
Commitment to Transparency and IFRS Compliance
Afreximbank emphasized that its financial reporting strictly follows International Financial Reporting Standards (IFRS), including IFRS 9, which governs loan classification and non-performing loan (NPL) assessments. The Bank clarified that while Fitch’s NPL definition differs from its own forward-looking approach, its methodology is fully detailed in its 2024 Financial Statements and independently verified by external auditors.
Debt Restructuring Clarification
Fitch’s ‘negative outlook’ was attributed to concerns over potential sovereign debt restructuring involving Afreximbank’s member states. However, the Bank firmly stated that its establishment treaty—signed by all 53 participating African states—prohibits it from engaging in sovereign debt restructuring negotiations.
“Afreximbank would like to reaffirm that it is not participating in debt restructuring negotiations related to any of its member countries,” the statement read. “To do so would be inconsistent with the Bank establishment treaty, which governs our operations.”
Strong Liquidity and Risk Management
Fitch also recognized Afreximbank’s low concentration risk and strong liquidity position, rating its treasury assets as high quality. The Bank reiterated that its risk management framework remains robust, supported by its solid capitalization and prudent financial policies.
Continued Focus on Africa’s Development
Afreximbank remains steadfast in its mission to drive trade-led growth, economic development, and macroeconomic stability across Africa. Despite external assessments, the Bank expressed confidence in its financial resilience, governance standards, and unwavering commitment to its member states.
“Our financial strength, governance, and dedication to Africa’s prosperity remain unshaken,” the statement concluded. “We will continue to support our member countries in overcoming economic challenges while advancing sustainable development.”
