Menu

The African Export-Import Bank (Afreximbank), Africa’s foremost multilateral trade finance institution, has announced that the global credit rating agency, Moody’s, has maintained its rating at Baa1 in its annual credit analysis, with the outlook categorised as stable.

Moody’s determines its rating for supranationals based on three criteria: capital adequacy, liquidity, and funding and strength of member support.

“Afreximbank is delighted to maintain its positive credit rating from Moody’s, which reflects the Bank’s disciplined approach to its balance sheet and financial health, as well as its capacity to deliver its mandate even in periods of macroeconomic uncertainty and instability,” said Benedict Oramah, President of Afreximbank.

The CEO said the bank’s creative and cautious approach to its own financing – as well as its solid capital base – has enabled it to intervene to help member states’ economies, as a combination of global conflicts, the lingering effects of the pandemic, and increasing global supply chain disruptions threaten the pace and scale of development in Africa.

In June 2023, Fitch Ratings affirmed Afreximbank’s long-term Issuer Default Rating (IDR) at BBB, with a stable outlook. The agency noted Afreximbank’s strong capital and liquidity positions.