African Export-Import Bank’s (Afreximbank) Senior Executive Vice President, Denys Denya, has said that the recent affirmation of the continental bank’s A-issuer credit rating by Japan Credit Rating Agency (JCR) reinforced its credibility in global markets and importance to Africa.
JCR recently affirmed the Bank’s rating with a stable outlook and noted the Bank’s important role in supporting trade finance and economic development across Africa and the Caribbean.
Denya said the affirmation underscored the bank’s strong fundamentals and prudent risk management practices. “It strengthens our ability to diversify our funding sources, including tapping into Japan’s capital markets, to advance further our mandate of promoting and financing intra- and extra-African trade.”
Denya reaffirmed Afreximbank’s commitment to its member-states, partners and clients, noting that its consistent delivery, even in challenging times, has been a key driver behind its strong credit standing.
“This rating is a testament to the Bank’s resilience and strategic focus, enabling us to mobilise resources to drive trade and development in Africa and the Caribbean,” he added.
JCR’s rating reflects its assessment of the Bank’s strategic positioning, robust risk management framework, consistent profitability, prudent liquidity policies and resilient capital base.
According to a statement from the Bank, JCR is optimistic that Afreximbank’s rating will remain stable over the next 12 to 18 months, despite external macroeconomic challenges and potential pressures in its operating environment.
The JCR affirmation is expected to bolster confidence among investors and stakeholders, supporting the bank’s ongoing efforts to expand its global funding base and market presence.
