Addis Ababa, February 4, 2026 (FMC) — South Africa has formally joined the African Export-Import Bank (Afreximbank) as a sovereign member, securing a landmark US$8 billion country programme aimed at accelerating industrialisation, expanding exports, and strengthening regional trade integration.
The accession was finalized following parliamentary approval in 2025 and the signing of the Afreximbank Establishment Agreement on February 4, making South Africa the institution’s 54th member state. The move integrates Africa’s most industrialised economy into the pan-African multilateral development bank, marking a significant milestone in the continent’s economic cooperation agenda.
Announcing the development at a signing ceremony in Johannesburg, Afreximbank President Dr. George Elombi said the US$8 billion programme would be deployed across priority sectors in line with South Africa’s National Development Plan 2030. The programme is designed to support industrial expansion, strengthen value chains, and enhance intra-African trade and investment.
Dr. Elombi noted that the programme was developed in close coordination with South Africa’s Department of Trade, Industry and Competition, reflecting shared objectives in trade facilitation, industrial development, and economic transformation.
President Cyril Ramaphosa described South Africa’s accession as a major step forward in advancing Africa’s economic integration, emphasizing that the partnership would provide critical support to exporters, industrial projects, and regional value chains. He also underscored the programme’s role in promoting inclusive growth, including support for historically disadvantaged enterprises.
In addition to the core US$8 billion package, Afreximbank is planning an additional US$3 billion financing initiative focused on inclusive growth, targeting small and medium-sized enterprises and underserved segments of the economy in collaboration with national development institutions.
Afreximbank’s engagement with South Africa predates full membership, with an existing pipeline of projects exceeding US$6 billion across sectors including healthcare, manufacturing, energy, and mining. The bank also plans to support trade promotion initiatives, export financing, industrial park development, and advisory services.
South Africa’s entry into Afreximbank is expected to enhance access to continental markets, boost value-added production, and reinforce the country’s role within the African Continental Free Trade Area framework.