By Jessie Taylor
South Africa’s Accession to Afreximbank Marks a New Chapter In Continental Trade and Investment
South Africa’s formal accession to the African Export–Import Bank, commonly known as Afreximbank, marks a milestone for both the country’s economic strategy and Africa’s broader journey toward deeper regional integration. In early 2026, South Africa officially became a shareholder member of Afreximbank, the continent’s flagship export-import financial institution, following parliamentary approval in 2025.
Alongside this accession came the announcement of an $8-billion Country Programme designed to catalyse strategic sectors of the economy. This programme aligns with South Africa’s National Development Plan 2030 and prioritises trade, industrialisation, inclusive transformation and regional value chains.
Supporting Transformation and Inclusion
Afreximbank President Dr George Elombi highlighted that the programme’s scope spans sectors such as healthcare, manufacturing, energy infrastructure and financial services – areas that are critical for sustaining long-term economic competitiveness. Through targeted financing, the partnership aims to strengthen South African exporters and enhance regional market access under the African Continental Free Trade Area (AfCFTA) framework.
A key element of the Country Programme is its focus on inclusive economic participation. A portion of the financing will be directed towards South Africa’s Transformation Fund, intended to deepen empowerment and support historically marginalised entrepreneurs. President Cyril Ramaphosa welcomed the accession as a tangible demonstration of South Africa’s support for African industrial development and continental economic integration. He described the partnership as a catalyst for expanded trade, investment and shared prosperity.
He described the accession as a “major milestone in our quest to realise what I would call the economic integration of our continent”. President Ramaphosa said: “For more than 30 years, Afreximbank has demonstrated its own ability, its resilience, its innovative capability, but it has more than that demonstrated that it has impact. This partnership will strengthen in more ways than one South Africa’s ability to support South African exporters, industrial projects and regional value chains while advancing our continent’s progress.”
A Broader Context of Continental Trade
South Africa already plays a leading role in intra-African commerce, accounting for a significant share of total continental trade and acting as an important economic link within the Southern African Development Community and beyond. Access to Afreximbank’s trade infrastructure and financing tools enhances the country’s ability to diversify its export markets, strengthen supply chains and attract further investment.
For South Africa, joining Afreximbank is more than symbolic. It provides access to competitive trade and export finance, helps reduce barriers to regional markets, and offers practical support for strategic investment projects. From large industrial ventures to small and medium enterprises, the partnership is expected to expand opportunities while strengthening the country’s resilience in a dynamic global economy.
As South Africa deepens its collaboration with African partners, the Afreximbank accession underscores a forward-looking vision of economic growth rooted in regional collaboration, innovation and inclusive participation.
Across the continent, Afreximbank has demonstrated its capacity to mobilise capital and support transformative initiatives. Its assets have grown substantially over the past decade, and it is a key financial partner in implementing the AfCFTA, including through mechanisms such as the Pan-African Payment and Settlement System (PAPSS), which facilitates cross-border trade.
What is Afreximbank?
Afreximbank is a Pan-African multilateral financial institution established in the early 1990s to support and finance trade across the continent. Its core mission is to promote intra-African and extra-African trade, accelerate industrialisation, and deepen economic integration.
Afreximbank operates across more than 50 African countries and has grown significantly in size and influence. It deploys financing solutions – including loans, guarantees, equity investments, and insurance – to both governments and private-sector players.As of the end of 2024, the bank’s total assets and contingent liabilities exceeded $40 billion, and its shareholders’ funds approached $7.2-billion, reflecting its increasing role as a systemic provider of trade finance on the continent.
One of Afreximbank’s most impactful innovations has been its support for the African Continental Free Trade Area (AfCFTA). The bank helped develop the Pan-African Payment and Settlement System (PAPSS), a platform designed to make cross-border payments in local African currencies easier, faster and cheaper. This reduces reliance on foreign currencies, lowers transaction costs and encourages more African businesses to engage in intra-continental trade.
In addition, the bank’s investment subsidiaries, such as the Fund for Export Development Africa (FEDA) and AfrexInsure, bring equity capital and tailored risk management tools to sectors like agribusiness, healthcare and manufacturing. These efforts expand access to financing for smaller firms and industries that typically face funding barriers.
Afreximbank plays a transformational role in Africa’s economic landscape, not just by financing trade, but by nurturing the conditions for broader industrial growth, regional integration and inclusive development.
