Afreximbank, the African Export-Import Bank, reported 25% growth in net income for the first quarter of 2026, alongside a membership milestone.
What happened
The bank and its subsidiaries announced results for the three months to 31 March 2026, citing improved profitability. South Africa ratified the bank’s Establishment Agreement in February 2026, bringing one of Africa’s largest and most diversified economies into its membership and giving Afreximbank full continental coverage.
Ahead of its 2026 Annual Meetings in Cairo, the bank said Africa’s next phase of growth must be driven by intra-African trade, industrialisation and greater economic sovereignty. It pointed to support for the Dangote Refinery, the Beitbridge Border Post upgrade and a $250 million African Trade Centre project in Egypt as examples. It also backed the creation of an African credit rating agency aimed at fairer assessments of African economies.
Why it matters
Afreximbank sits at the centre of the African Continental Free Trade Area (AfCFTA) agenda through the Pan-African Payment and Settlement System, the AfCFTA Adjustment Fund and other trade tools. Stronger earnings and a wider membership give it more capacity to finance trade and industry across the continent.
What to watch
The bank’s pledge to double financing for intra-African trade to $40 billion by 2026 is a key test. Watch what it reports on progress and new deals at the annual meetings.
Sources: africa.com; Ghanaian Times.
