CAIRO, Jan 23 – African Export-Import Bank (Afreximbank) has announced the termination of its credit rating relationship with Fitch Ratings, following an internal review of the engagement.
In a statement issued on Friday, the Cairo-based multilateral lender said the decision was driven by its assessment that the credit rating exercise no longer reflects a sufficient understanding of the bank’s Establishment Agreement, mission, and institutional mandate.
Afreximbank said its business profile remains strong, supported by long-standing shareholder relationships and the legal protections embedded in its Establishment Agreement, which has been signed and ratified by its member states.
The bank emphasised that its mandate, governance structure, and treaty-based legal framework differentiate it from conventional financial institutions and require a rating approach that fully recognises these characteristics.
Afreximbank plays a central role in financing African trade, industrialization, and economic development, particularly during periods of external shocks and constrained access to global capital markets.
