African Export-Import Bank

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African Export Import Bank (2021-11)
  • African Export-Import Bank
  • Year : Dec 2021
3 Tokens
USD 300.00
Summary

With development related exposures of about USD16bn at 31 Dec. 2020, Afreximbank is one of the largest MDBs operating in the African region. The Bank’s geographical mandate exposes the balance sheet to the high and rising operating environment risks of the African continent. We believe these risks continue to rise, reflecting the direct and indirect impact of the COVID-19 pandemic and other exogenous risks. Furthermore, these same exogenous risks have lowered shareholder creditworthiness. Positively, the sovereign membership base is diverse (on a regional basis) and growing.

Additional Information

The outlook is positive reflecting our expectation for the status of the Bank to strengthen, cemented by its development impact on the African continent (measured by the loan book) now closing in on the USD20bn mark. The outlook also considers the anticipated capital increase of USD1.5bn by shareholders over the next 2 years. A positive rating migration could result from strengthening status and diversity through successful implementation of various mandates from the AU as an example amongst other initiatives, substantial capital increase and subsequent management of GCR leverage above 18%.

Related Publication

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