African Export-Import Bank (Afreximbank) has officially terminated its credit rating relationship with Fitch Ratings, citing a lack of understanding of its Establishment Agreement, mission, and mandate
Afreximbank in a statement said the decision followed a review of the relationship, and is not a reflection of the bank’s financial position, which remains robust with strong shareholder relationships and legal protections. It came after Fitch downgraded Afreximbank’s credit rating in June 2025, citing concerns over sovereign loan exposures and asset quality
Afreximbank emphasized its commitment to transparency, sound financial management, and institutional stability.
The bank maintains investment-grade ratings from other agencies, including Moody’s (Baa2), GCR (A), China Chengxin International Credit Rating (AAA), and Japan Credit Rating Agency (A-).
The termination reflects deeper tensions between African institutions and global rating firms, with Afreximbank pushing for greater control over its credit narrative.
The African Credit Rating Agency (AfCRA), backed by the African Union, is expected to begin operations soon, providing a homegrown alternative to international rating agencies .
