Moody’s affirms Afreximbank’s credit rating at stable outlook -

Moody’s, the global credit ratings agency, on Tuesday, affirmed African Export-Import Bank’s (Afreximbank) long-term credit rating at Baa1, with a stable outlook.

The agency determines its rating for supranational based on three criteria: capital adequacy, liquidity, and funding and strength of member support.

Moody’s notes that Afreximbank’s credit profile is “supported by its collateralized trade finance business model, with a short average asset maturity and a relatively well-diversified loan portfolio that allows it to respond flexibly to the coronavirus crisis.”

The report adds that “the stable outlook is supported by the Bank’s successful equity-raising performance and its track record of adapting its strategy to challenges in the operating environment of member countries without undermining its asset-quality performance.”

Benedict Oramah, President of Afreximbank, said: “Afreximbank is delighted by the outcome of Moody’s credit review, considering the challenges posed by COVID-19. As well as having a profit-oriented business model, the Bank has a developmental mandate and a responsibility to all its member states to intervene in times of emergency.

We have acted decisively with the launch of the Pandemic Trade Impact Mitigation Facility (PATIMFA). We look forward to continuing to support the Bank’s member countries in a prudent and impactful manner.”

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.