The African Export-Import Bank (Afreximbank) has announced that it raised over $800 million from international markets in 2025, despite concerns raised by global rating agencies.
The bank disclosed this in a statement on Thursday, where it also provided details of its 2025 financial performance.
According to the statement, the funds were raised through Samurai and Panda bond issuances in Japan and China, respectively.
What Afreximbank is saying
Afreximbank said the successful fundraising highlights its resilience and strong access to global capital markets.
- “Contrary to concerns raised by some rating agencies during the year, the Bank accessed international bond markets by successfully raising over $800 million from Japan and China, courtesy of the Samurai and Panda bonds in 2025.”
- “This demonstrated the Group’s fund-raising capabilities and the solid nature of the Bank’s DNA as a pan-African multilateral financial institution.”
The bank noted that the achievement underscores its commitment to supporting Africa’s economic growth and self-reliance.
Get up to speed
The fundraising comes amid a prolonged disagreement between Afreximbank and Fitch Ratings over its credit assessment.
In January 2026, Afreximbank terminated its rating relationship with Fitch Ratings.
- The dispute followed Fitch’s downgrade of the bank’s long-term rating from BBB to BBB- with a negative outlook in June 2025.
- Fitch cited concerns over the bank’s exposure to sovereign borrowers such as Ghana, Zambia, and South Sudan.
- The agency also raised issues around non-performing loan classification, estimating NPLs at 7.1% compared to Afreximbank’s reported 2.3%.
The disagreement reflects broader concerns about sovereign risk exposure across African markets.
More insights
Afreximbank also reported strong financial performance for the 2025 financial year.
- Total assets and contingencies rose by 21% to $48.5 billion.
- Net loans and advances increased by 16% to $33.5 billion.
- Net income grew by 19% to $1.2 billion, while gross income rose to $3.5 billion.
- Shareholders’ funds increased by 17% to $8.4 billion, supported by new equity inflows.
The bank maintained a stable non-performing loan ratio of 2.43% and a strong liquidity position, with cash and equivalents rising to $6.0 billion.
What you should know
Fitch Ratings further downgraded Afreximbank’s credit rating in early 2026, intensifying concerns around its credit profile.
- The bank’s long-term rating was reduced from BBB- to BB+, effectively placing it in non-investment grade territory.
- Its short-term issuer default rating was also downgraded to ‘B’ from ‘F3’.
- The downgrade reflects ongoing concerns about asset quality and exposure to sovereign debt risks.
Despite the rating pressures, Afreximbank continues to demonstrate strong financial performance and access to international funding markets.
