African Export-Import Bank (Afreximbank) has officially terminated its credit rating relationship with Fitch Ratings, a move that is likely to spark fresh debate over how global rating agencies assess African multilateral institutions.
In a notice released on Friday, January 23, 2026, the Cairo-based pan-African lender said the decision followed a review of its engagement with Fitch and a conclusion that the credit rating process no longer reflected a proper understanding of the Bank’s Establishment Agreement, mandate, and development mission.
Afreximbank stressed that the move does not signal any weakening of its financial position.
On the contrary, it said its business profile remains resilient, underpinned by strong shareholder relationships and robust legal protections embedded in its Establishment Agreement, which has been signed and ratified by member states.
The Bank did not indicate whether it plans to appoint another international credit rating agency in the near term. However, it reaffirmed its commitment to transparency, sound financial management, and institutional stability as it continues to finance trade and economic development across Africa and with global partners.
Afreximbank plays a critical role in facilitating both intra-African and extra-African trade, particularly at a time when many African economies are grappling with tight global financial conditions and evolving investor sentiment in international capital markets.
Its decision to part ways with Fitch is expected to reignite broader conversations about the relevance, methodology, and perceived biases of global rating agencies in assessing Africa-focused development lenders.
