The African Export-Import Bank (Afreximbank) says it raised more than $800 million from international markets in 2025, despite concerns raised by global credit rating agencies.
The bank disclosed this in a statement on Thursday while announcing details of its financial performance for the 2025 financial year.
According to the statement, the funds were raised through Samurai and Panda bond issuances in Japan and China respectively, demonstrating the bank’s continued access to global capital markets.
“Contrary to concerns raised by some rating agencies during the year, the Bank accessed international bond markets by successfully raising over $800 million from Japan and China, courtesy of the Samurai and Panda bonds in 2025,” the bank said.
It added that the successful fundraising reflected the group’s strong funding capacity and the resilience of its pan-African multilateral financial structure.
“This demonstrated the Group’s fund-raising capabilities and the solid nature of the Bank’s DNA as a pan-African multilateral financial institution,” the statement said.
The bank noted that the fundraising effort underscores its commitment to supporting Africa’s economic development and promoting financial independence across the continent.
The development comes amid a prolonged disagreement between Afreximbank and Fitch Ratings over the bank’s credit assessment.
In January 2026, Afreximbank terminated its rating relationship with Fitch following a downgrade issued in June 2025.
Fitch had reduced the bank’s long-term credit rating from BBB to BBB- with a negative outlook, citing concerns about its exposure to sovereign borrowers such as Ghana, Zambia, and South Sudan.
The rating agency also raised questions about the bank’s non-performing loan classification, estimating its non-performing loan ratio at 7.1 percent compared to the bank’s reported 2.3 percent.
The disagreement reflects wider concerns about sovereign risk exposure in several African economies.
Despite the rating pressures, Afreximbank reported strong financial results for the 2025 financial year.
According to the bank, total assets and contingencies grew by 21 percent to $48.5 billion during the year.
Net loans and advances increased by 16 percent to $33.5 billion, while net income rose by 19 percent to $1.2 billion.
Gross income climbed to $3.5 billion, while shareholders’ funds increased by 17 percent to $8.4 billion, supported by new equity inflows.
The bank also maintained a stable non-performing loan ratio of 2.43 percent and a strong liquidity position, with cash and cash equivalents rising to $6.0 billion.
However, Fitch further downgraded Afreximbank’s credit rating in early 2026, lowering its long-term rating from BBB- to BB+, placing it in non-investment grade territory.
Its short-term issuer default rating was also reduced to ‘B’ from ‘F3’.
Fitch said the downgrade reflected persistent concerns about asset quality and the bank’s exposure to sovereign debt risks.
Nevertheless, Afreximbank said its performance and continued access to international funding markets demonstrate the strength of its financial position and its commitment to supporting trade and development across Africa.
