South Africa’s partnership with the African Export-Import Bank (Afreximbank) has deepened, opening new avenues for trade, infrastructure, and industrial growth.
Deputy Minister of Public Works and Infrastructure Sihle Zikalala said at Afreximbank’s Farewell Conference and Investiture Ceremony on Friday that collaboration has evolved significantly since 2021.
“The relationship now extends to project preparation, trade promotion, and sub-sovereign financing,” Zikalala said, highlighting the bank’s growing strategic role in South Africa.
He noted Afreximbank’s Intra-African Trade Fair, launched in 2018 with the African Union and AfCFTA Secretariat, has been a catalyst for stronger ties.
South Africa hosted the second edition in Durban post-COVID-19, drawing more than ten African Heads of State and significant regional attention.
A key achievement of the partnership has been enabling provinces and municipalities to access Afreximbank funding directly for infrastructure and industrial initiatives.
Zikalala cited private-sector-supported projects like the Nyanza Titanium development in the Richards Bay Industrial Development Zone as examples of successful collaboration.
He emphasised that Finance Minister Enoch Godongwana’s efforts to secure South Africa’s full sovereign membership in Afreximbank would expand opportunities across the public and private sectors.
“Becoming a full affiliate allows entities to source funding more directly and enables Afreximbank to partner closely with government,” Zikalala said.
The strengthened relationship signals South Africa’s intent to play a more active role in shaping Africa’s trade, infrastructure, and industrial landscape through strategic banking partnerships.