Afreximbank is proving that investor confidence outweighs credit ratings. Despite a public spat with Fitch Ratings—which saw the bank’s rating slip into “non-investment grade” territory—the pan-African lender successfully raised $800 million through Samurai and Panda bonds in Japan and China. By tapping into Asian markets, the bank demonstrated its resilience, bypassing traditional Western concerns over sovereign risk in nations like Ghana and Zambia. The bank also posted standout financial results: total assets surged 21% to $48.5 billion, net income grew 19% to $1.2 billion, and shareholders’ funds climbed to $8.4 billion. This defiant fundraising success signals a significant shift, as African institutions increasingly look east to fund the continent’s self-reliance and economic growth.
Nairametrics
