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African Export-Import Bank (Afreximbank) has terminated its credit rating relationship with Fitch Ratings, the Bank announced on Friday.
The decision was disclosed in a statement issued from Cairo.
Afreximbank said the move followed a review of its engagement with the rating agency and a conclusion that Fitch’s assessments no longer adequately reflected the Bank’s Establishment Agreement, mission or mandate.
The treaty-based institution noted that these elements form the basis of its operational structure and risk profile.
The Bank stressed that its business fundamentals remained strong, supported by solid shareholder backing and the legal protections embedded in its Establishment Agreement, which has been signed and ratified by all member states.
It added that these safeguards continued to underpin the institution’s financial resilience.
The statement did not specify whether Afreximbank would maintain relationships with other rating agencies, but said the decision would not affect its ongoing operations or its role in supporting trade and development across the continent.
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