South Africa has officially joined the African Export-Import Bank (Afreximbank). Government leaders say the move will strengthen trade links across Africa and support industrial growth.
The accession was announced on Tuesday, 4 February 2026, in Johannesburg. It follows parliamentary approval granted last year. South Africa now become the 54th member of Afreximbank.
Officials say the move brings Africa’s most industrialised economy fully into the Bank’s trade and development framework. As part of the agreement, Afreximbank will roll out a US$8 billion country programme for South Africa.
The funding will support industrial projects, expand regional supply chains and boost trade with other African countries. It will also help deepen investment across key sectors. South Africa already plays a major role in continental trade. In 2024, it accounted for just over 19 percent of intra-African trade.
Government officials say membership will allow South Africa to use Afreximbank’s financial tools more effectively. These include trade finance, guarantees and project funding.
The timing is significant. Global trade is becoming more fragmented, with rising protectionism and shifting alliances.
Afreximbank President George Elombi described South Africa’s entry as a turning point. He said it strengthens Africa’s ability to act in its own economic interests.
Elombi said Afreximbank is reviewing projects worth more than US$6 billion in South Africa. These projects span healthcare, manufacturing, energy, mining and financial services. According to the Bank, several are already at advanced stages of assessment.
President Cyril Ramaphosa welcomed the accession and called it a milestone for African economic integration. He said the partnership would support South African exporters, grow industrial capacity and strengthen regional value chains.
Ramaphosa added that part of the funding would support the Transformation Fund. The fund aims to assist black-owned businesses excluded from the economy during apartheid. Beyond financing, South Africa and Afreximbank plan to work together on several initiatives.
These include trade promotion programmes, support for industrial parks and special economic zones, and financing for exporters. The partnership will also cover creative industries and advisory services.
Officials say the agreement positions South Africa to play a stronger role in building a more connected African economy.
