Japan affirms Afreximbank’s A- rating, stable outlook
By Lucy Ogalue
The Japan Credit Rating Agency, Ltd. (JCR) has affirmed the African Export-Import Bank’s (Afreximbank) A- issuer credit rating with a stable outlook.
In a statement on Thursday, Afreximbank said the rating reflected JCR’s positive assessment of the Bank’s strong strategic positioning, resilient capital base, consistent profitability, prudent liquidity management, and robust risk framework.
JCR also acknowledged Afreximbank’s critical role in supporting trade finance and economic development across Africa and the Caribbean.
“The agency expects the rating to remain stable over the next 12 to 18 months in spite of external economic pressures.”
It quoted Afreximbank’s Senior Executive Vice President, Mr Denys Denya, saying the rating underscored the Bank’s credibility in global markets and its systemic importance to Africa.
“The JCR’s affirmation highlights our strong fundamentals and prudent risk management practices.
“It also enhances our ability to diversify funding sources, including tapping into Japan’s capital markets,” Denya said.
He reaffirmed the Bank’s commitment to its member states, clients, and partners, noting that sustained delivery in challenging times had helped maintain its strong credit standing.
“This rating is a testament to our resilience and strategic focus, enabling us to mobilise resources for trade and development across Africa and the Caribbean,” he added.
In 2024, Afreximbank successfully completed its inaugural Samurai bond issuance in Japan, raising JPY 81.3 billion (approximately 530 million dollars).
The transaction attracted a wide range of Japanese institutional investors, further demonstrating the Bank’s rising appeal in global capital markets. (NAN)
Edited by Abiemwense Moru
Published By
- Agriculture and Environment Desk Controller/Website Content Manager.
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