• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Fitch affirms Afreximbank’s rating at ‘BBB’, outlook stable

2 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
76
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Fitch affirms Afreximbank’s rating at ‘BBB’, outlook stable

The global rating agency, Fitch Ratings, has affirmed the African Export-Import Bank’s (Afreximbank) Long-Term Issuer Default Rating (IDR) at ‘BBB’, with a stable outlook.

Fitch also affirmed Afreximbank’s Short-Term Issuer Default Rating at ‘F2’ and the Long-Term ratings on the bank’s Global Medium Term Note Programme and Debt Issuances at ‘BBB’.

The rating affirmation is a strong testament of the bank’s systemic relevance to Africa and captures the increasing number of the key mandates given to the bank by the African Union (AU), such as the implementation of the health response to the COVID-19 pandemic and the support for access to grains and fertilizers in the context of the Russia-Ukraine conflict.

Fitch acknowledged Afreximbank’s strong capital and liquidity position. In addition to the ‘excellent’ internal capital generation, the bank had raised US$1.4 billion paid-in capital, as of 2022, out of the planned raise of US$2.6 billion by 2026. The agency noted that Afreximbank had a strong liquidity profile, as its share of treasury assets rated ‘AA’ to ‘AAA’ remained above the ‘strong’ threshold of 40 per cent. It added that the Bank’s liquidity profile was further enhanced by its access to capital markets and other alternative liquidity sources even during challenging times.

The bank has continuously demonstrated its ability to de-risk its lending portfolio, noted Fitch. With a low concentration risk, coupled with a high collateralisation of the loan book, where 25% of the loan book was cash collateralised and eight per cent was credit insured from ‘A’ to ‘AA’ rated insurers, “the ‘moderate’ risk management policies primarily reflect the use of credit risk mitigants that have helped maintain a relatively low non-performing loan ratio, despite the high-risk environment that the bank operates in.”

Commenting on the development, Prof Benedict Oramah, president and chairman of the board of directors of Afreximbank, said that Fitch’s affirmation is a strong testament to the bank’s strong developmental mandate and its increasing countercyclical role in helping its member countries during challenging times.

RelatedPosts

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

The bank has continued to contribute and define the path for Africa’s economic future through the creation of programmes and initiatives that support the emergence of integrated and well diversified African economy that adapts and responds to global shocks.

“The Bank’s consistent and prudent response to member countries’ needs during challenging times and its ability to manage exposures prudently have led to its recognition by member countries as a systemic institution as evidenced by its accreditation by the AU and its selection by the AU as a preferred partner in implementing some AU strategic initiatives,” the president said.

 

Tags: AfreximbankFitch affirms Afreximbank’s rating at ‘BBB’Fitch Ratingsoutlook stable
No Result
View All Result

Highlights

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

Trending

Features

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

MTN Nigeria Now the Most Capitalized Stock in Nigeria MTN Nigeria has surged to become the most...

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.