Afreximbank Ends Credit Rating Relationship with Fitch Ratings

The African Export-Import Bank (Afreximbank) has officially announced the termination of its credit rating relationship with Fitch Ratings, marking a significant shift in how the pan-African financial institution engages with global rating agencies. The decision, disclosed via the Bank’s official X handle, follows what Afreximbank described as a comprehensive internal review of the relationship.

According to the Bank, the move was driven by concerns that Fitch’s current credit rating assessment no longer offers an accurate or adequate understanding of Afreximbank’s unique Establishment Agreement, mission, and development-focused mandate.

As a multilateral financial institution with a specialised role in promoting intra- and extra-African trade, Afreximbank believes traditional credit rating frameworks may not fully capture its legal structure and operational realities.

Despite ending its engagement with Fitch, Afreximbank was quick to reassure stakeholders that its financial and operational position remains strong. The Bank highlighted its solid shareholder relationships and the robust legal protections embedded in its Establishment Agreement, which has been signed and ratified by its member states. These safeguards, it noted, continue to underpin its resilience and credibility across global and African markets.

While Afreximbank did not indicate whether it plans to appoint another credit rating agency in the near future, it reaffirmed its commitment to transparency, sound financial management, and long-term stability. The Bank also emphasised that the decision does not alter its core mission of supporting trade, industrialisation, and economic growth across the African continent.

By stepping away from Fitch Ratings, Afreximbank signals a broader conversation about how Africa-focused development institutions are assessed and understood internationally. As the Bank continues to expand its impact, it remains focused on delivering value to its member states and strengthening Africa’s position in global trade.