South Africa has become the 54th member of the African Export-Import Bank, unlocking access to an $8 billion country program aimed at supporting key sectors of the economy and boosting intra-African trade.
The program aligns with South Africa’s National Development Plan 2030 and targets manufacturing, energy, mining, healthcare, financial services, industrial parks, special economic zones and regional value chains.
At a signing ceremony on Wednesday, Afreximbank President and Chairman George Elombi said South Africa’s accession marks a critical step toward reshaping Africa’s trade structure and advancing continental integration.
He said the bank’s current project pipeline in South Africa already exceeds $6 billion.
President Cyril Ramaphosa said the partnership would strengthen South Africa’s ability to support exporters, industrial projects and regional value chains while advancing development across the continent.
“We seek to contribute to an Africa that prioritises intra-continental trade, that builds its own industrial base and that mobilises African financial institutions to support development,” he added.
The African Export-Import Bank is a pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade.
For more than 30 years, the bank has deployed innovative structures to deliver financing solutions that support the transformation of Africa’s trade, accelerate industrialisation and expand intra-regional commerce, driving economic growth across the continent.
