Afreximbank Cuts Ties With Fitch Ratings

By Oluwakemi Kindness

The African Export-Import Bank (Afreximbank) has officially ended its credit rating relationship with Fitch Ratings.

In a statement shared on its official X handle on Friday, the Bank says the decision followed a comprehensive review.

It also notes that the current credit rating assessment no longer reflects a proper understanding of Afreximbank’s Establishment Agreement, mission, and mandate.

Despite the move, Afreximbank stressed that its business profile remains strong, supported by solid shareholder relationships and robust legal protections embedded in its Establishment Agreement, which has been signed and ratified by its member states.

The Bank did not indicate whether it plans to engage another credit rating agency but reaffirmed its commitment to transparency and financial stability as it continues to promote trade and economic growth across Africa.

“This decision follows a review of the relationship and our firm belief that the credit rating exercise no longer reflects a good understanding of the Bank’s Establishment Agreement, mission and mandate,” the Bank said.