The African Export-Import Bank (Afreximbank) has officially ended its credit rating relationship with Fitch Ratings, the institution announced on Friday, following a strategic review of its partnerships.
In a statement, Afreximbank said the decision was driven by the view that Fitch’s credit rating assessments no longer fully capture the bank’s Establishment Agreement, mission, and mandate. “Afreximbank has today officially terminated its credit rating relationship with Fitch Ratings. This decision follows a review of the relationship, and the firm belief that the credit rating exercise no longer reflects a good understanding of the Bank’s Establishment Agreement, its mission, and its mandate,” the statement read.
The bank reassured stakeholders that the termination would not affect its operational and financial stability. Afreximbank highlighted its strong shareholder relationships and the legal safeguards embedded in its Establishment Agreement, which has been signed and ratified by all member states.
It also reaffirmed its ongoing commitment to its core mandate of promoting trade and economic integration across Africa. “Our robust business fundamentals continue to underpin confidence among stakeholders,” the bank added, emphasizing that its operations and strategic objectives remain unaffected.
Afreximbank’s leadership described the move as a recalibration of external evaluations to better align with the bank’s unique institutional structure and long-term objectives, signaling a continued focus on sustaining its strong financial and developmental profile across the continent.
