African Export-Import Bank (Afreximbank) (www.Afreximbank.com) and the Government of the Republic of South Africa, through the Department of Trade, Industry and Competition (“DTIC”), have signed a Memorandum of Understanding (MOU), the purpose of which is to advance South Africa's industrial development, trade expansion and regional integration.
Signed in Alamein, Egypt on 20 June 2026, the MOU establishes a US$14 billion country program under which Afreximbank will deploy a combination of financing and non-financial interventions in support of the development priorities of South Africa, one of the continent's largest economies.
The MoU was signed by the Chairman of the Board of Directors of Afreximbank, Honorable Dr. George Allombi. Mpho Parks Tau, Minister of Trade, Industry and Competition of South Africa.
The signing of this partnership marks an important step towards deepening cooperation between South Africa and the pan-African multilateral financial institution, following South Africa’s accession to the Afreximbank Establishment Agreement in February 2026. The MoU seeks to support investment in industrial infrastructure, energy generation and transmission as well as other infrastructure that advances South Africa's industrial competitiveness and its trade and investment relations with the rest of the continent.
The country program includes the Afreximbank Inclusive Growth Assistance Program for South Africa, designed to address structural gaps in the economy and expand access to finance for previously disadvantaged groups, enabling them to build wealth, participate meaningfully in strategic sectors and contribute to a more inclusive redistribution of economic opportunity across South Africa. The Bank has set aside a total of US$3 billion to support this initiative.
Dr. George Allombi, Chairman and Chairman of the Board of Directors of Afreximbank, said: “With this Memorandum of Understanding, Afreximbank and the Republic of South Africa have taken an important step to strengthen our partnership to support South Africa’s development priorities and advance Africa’s economic integration. The country program will unlock investment flows into strategic sectors of the South African economy, including enabling the processing of minerals and agricultural commodities in South Africa, expanding trade between South Africa and the rest of the continent under the African Continental Free Trade Area (AfCFTA), South African investment across Africa The country program also allows Afreximbank to expand its development footprint across the continent.”
Honorable. Mpho Parks Tau, Minister of Trade, Industry and Competition of South Africaindicated that: “The MoU also seeks to advance the implementation of the African Continental Free Trade Area (AfCFTA) by promoting stronger regional value chains (RVCs) and addressing cross-border barriers that continue to impede the free flow of goods, services and capital across the continent.”
Other key areas of cooperation include the re-launch and funding of the South Africa-Africa Trade and Investment Promotion Program (SATIPP) 2.0, the establishment of the South Africa Exim Bank by providing technical, management, financial and operational assistance and/or seed financing, joint project origination and preparation activities, financing for the establishment and expansion of industrial parks and special economic zones (SEZs), co-financing energy projects including renewable energy, mineral beneficiation as well as institutional capacity, technical assistance and advisory services. Doing is involved.
The country program is aligned with South Africa's National Development Plan (NDP) 2030, Medium Term Development Plan (2024-2029), Implementation Plan to Drive Growth and Inclusion (GAIN), and industrial and trade strategies.
Distributed by APO Group on behalf of Afreximbank.
media Contact:
Vincent Musumba
Communications and Program Manager (Media Relations)
Email: press@afreximbank.com
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About Afreximbank:
The African Export-Import Bank (Afreximbank) is a pan-African multilateral financial institution mandated to finance and promote intra- and intra-African trade. For more than 30 years, the Bank has been deploying innovative structures to provide financing solutions that support the transformation of Africa's trade structure, accelerating industrialization and inter-regional trade, thereby promoting economic expansion in Africa. A strong supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payments and Settlements System (PAPSS) which was adopted by the African Union (AU) as a payments and settlements platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has established a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2025, Afreximbank's total assets and contingent assets stood at more than US$48.5 billion, and its shareholder funds amounted to US$8.4 billion. Afreximbank has investment grade ratings assigned by China Chengxin International Credit Rating Co., Ltd. (CCXI) (AAA), GCR (A), Japan Credit Rating Agency (JCR) (A-), Moody's (Baa2) and S&P Global Ratings (BBB+). The bank is headquartered in Cairo, Egypt.
For more information visit: www.Afreximbank.com