- South Africa becomes the 54th member of Afreximbank, strengthening continental trade and financial integration.
- Afreximbank announces a US$8 billion country programme aligned with South Africa’s industrial and development priorities.
- Partnership set to expand intra African trade, regional value chains and strategic industrial sectors.
The Republic of South Africa has officially acceded to the Establishment Agreement of the African Export Import Bank, marking the formal entry of one of the continent’s largest economies into Africa’s leading multilateral financial institution. The move signals a significant step towards deeper financial sovereignty and continental economic integration.
South Africa’s accession follows parliamentary approval in 2025 and cements a strategic partnership between Afreximbank and one of Africa’s most industrialised economies. The development comes at a time when global trade and financial systems are increasingly fragmented by protectionist policies and shifting trade blocs, elevating the importance of strong African led financial institutions.
As part of the accession, Afreximbank will roll out major financial interventions in South Africa, anchored by a new US$8 billion country programme. The programme is designed to deepen industrial development, strengthen regional supply chains and significantly increase intra African trade and investment flows. It is aligned with South Africa’s National Development Plan 2030 and national industrial and trade priorities.
South Africa is currently the continent’s largest contributor to intra African trade, accounting for 19.1 percent of total African trade in 2024. Afreximbank said the country is well positioned to leverage the bank’s trade finance infrastructure, technical expertise and pan African reach to expand export markets across the continent.
Dr George Elombi, President and Chairman of the Board of Directors of Afreximbank, described South Africa’s membership as a decisive step towards advancing Africa’s collective economic interests. He noted that the partnership brings Afreximbank closer to its vision of transforming the structure of African trade while giving the bank full continental coverage.
Dr Elombi confirmed that Afreximbank’s current project pipeline in South Africa exceeds US$6 billion and spans sectors including healthcare, financial services, manufacturing, energy, industrial development and mining.
President of the Republic of South Africa, Cyril Ramaphosa, said the accession represents a major milestone in advancing Africa’s economic integration agenda. He emphasised that the partnership will support industrial development, expand trade and investment, and strengthen regional value chains across the continent.
President Ramaphosa added that the country programme will initially support strategic projects within the trade and industrial cluster, including targeted support for South Africa’s Transformation Fund to enable greater participation of black owned businesses in the economy.
Following the announcement, South Africa and Afreximbank confirmed plans to jointly pursue a range of trade and development initiatives. These include the South Africa Africa Trade and Investment Promotion Programme, the Afreximbank Guarantee Programme, financing for industrial parks and special economic zones, export trading company financing, project and asset-based finance, conventional trade finance, project preparation support, and financing for the creative and cultural industries, alongside advisory services across key sectors.
Author: Bryan Groenendaal
