Afreximbank retains AAA Credit rating from China’s CCXI 

Business, Corporate Affairs

CAIRO, Egypt (NPA) — China Chengxin International Credit Rating Co. Ltd. (CCXI) has affirmed the African Export-Import Bank (Afreximbank)’s AAA issuer credit rating with a stable outlook for the second consecutive year. 

The affirmation, according to a statement issued on Saturday by Afreximbank’s Communications and Events Manager, Vincent Musumba, underscores the bank’s financial strength and strategic importance. 

CCXI, in its 2026 Credit Rating Report for Afreximbank, released in Beijing on July 30, said it expected the bank’s credit rating to remain stable over the next 12 to 18 months. 

Musumba said the rating agency identified Afreximbank’s strong strategic positioning, sound risk management system, flexible business development and strong profitability among its key strengths. 

The agency also highlighted the bank’s prudent liquidity management and very high coverage ratio of current assets to short-term debts, which it said strongly supported Afreximbank’s overall credit strength. 

According to Musumba, the latest affirmation would further strengthen Afreximbank’s access to diversified funding sources, particularly in China, while enhancing its profile and market presence in one of the world’s largest capital markets. 

“In 2025, the bank issued its inaugural 2.2 billion Chinese yuan Panda bond, becoming the first African multilateral development institution to access the Panda bond market,” he said. 

Musumba added that Afreximbank had subsequently become a direct participant in China’s Cross-border Interbank Payment System (CIPS), strengthening its role in facilitating China-Africa trade, investment flows and partnerships. 

The CCXI affirmation follows S&P Global Ratings’ assignment earlier in 2026 of BBB+ long-term and A-2 short-term issuer credit ratings to Afreximbank, also with a stable outlook. 

Afreximbank also holds investment-grade ratings from GCR (A), Japan Credit Rating Agency (A-) and Moody’s (Baa2), according to the statement. 

Commenting on the latest rating, Chandi Mwenebungu, Managing Director, Treasury and Markets, and Treasurer, Afreximbank, described the affirmation as a strong endorsement of the bank’s financial strength and disciplined risk management. 

“The affirmation of our AAA rating for a second consecutive year is a strong endorsement of Afreximbank’s financial strength, disciplined risk management and enduring relevance to Africa and Global Africa,” Mwenebungu said. 

He said the rating demonstrated the bank’s capacity to deliver on its mandate, support member states during periods of uncertainty and mobilise capital from diverse funding pools across local and global markets. 

Mwenebungu added that the rating reflected Afreximbank’s ability to maintain the financial resilience and institutional strength expected of a leading multilateral development bank.