South Africa has become the 54th member of the African Export-Import Bank, securing a landmark partnership aimed at strengthening its economy.
The accession comes with a new eight-billion-dollar financing programme designed to accelerate growth amid a fragmenting global trade environment.
Afreximbank described the move as historic, highlighting efforts to unlock trade opportunities despite rising protectionism and shifting international trade blocs.
Central to the agreement is an eight-billion-dollar country programme targeting industrial development, stronger regional supply chains, and expanded intra-African trade.
The bank said the tailored interventions would significantly boost investment flows while aligning closely with South Africa’s long-term economic ambitions.
South Africa currently leads the continent in intra-African trade, accounting for 19.1 percent of total African trade in 2024.
This position, Afreximbank noted, allows the country to leverage its pan-African reach to expand export relationships across the continent.
Afreximbank President George Elombi said the membership marked a decisive step toward uniting Africa around shared economic interests.
President Cyril Ramaphosa said the accession reaffirmed South Africa’s commitment to African industrial development and deeper continental integration.