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African Export-Import Bank (Afreximbank) announced on 23 January 2026 that it has officially terminated its credit rating relationship with Fitch Ratings.

The African multilateral trade finance institution said its decision “follows a review of the relationship and its firm belief that the credit rating exercise no longer reflects a good understanding of the Bank’s Establishment Agreement, its mission, and its mandate.”

Afreximbank’s decision follows a prolonged dispute over rating methodologies and how global agencies assess African risk.

In June 2025, Fitch downgraded the bank’s rating from BBB to BBB- (the lowest investment grade) with a “negative” outlook, citing high-risk exposures to sovereign debt restructuring in countries like Ghana, Zambia, and South Sudan.

Afreximbank said its business profile remains robust, underpinned by strong shareholder relationships and the legal protections embedded in its Establishment Agreement, signed and ratified by its member states.

At the end of December 2024, Afreximbank's total assets and contingencies stood at over $40.1 billion, and its shareholder funds amounted to $7.2 billion. Afreximbank has investment-grade credit ratings assigned by GCR (international scale) (A) and Moody's (Baa2).