South Africa : joins Afreximbank with $8bn Country Programme to boost industry

The Republic of South Africa officially acceded on 4 February 2026 to the Establishment Agreement of the African Export-Import Bank (Afreximbank), becoming the bank’s 54th member after Parliament approved accession in 2025. The entry is coupled with an $8 billion country programme designed to strengthen industrial development, regional value chains and intra-African trade, in line with the country’s National Development Plan 2030 and industrial and trade priorities. 

President Cyril Ramaphosa said the partnership will enhance economic transformation and access to finance for SMEs and domestic industries. Afreximbank, led by Dr George Elombi, also has a project pipeline exceeding $6 billion in sectors such as health, energy and manufacturing. Joint initiatives cover trade promotion, industrial park financing and export support, reinforcing South Africa’s role in the AfCFTA.