The African Export-Import Bank (Afreximbank) has prepared an initial $8 billion financing package for South Africa following the country’s accession as a full sovereign member of the pan-African lender. The move comes after South Africa’s parliament approved the membership, deepening ties between the bank and Africa’s most industrialized economy, Reuters reported.
The financing will be structured as a country programme aligned with South Africa’s National Development Plan and broader industrial and trade priorities. Afreximbank said the package is designed to support infrastructure development, industrialisation and trade expansion, while strengthening the country’s integration into regional and continental markets.
Priority sectors under the programme include mineral beneficiation, manufacturing, energy infrastructure and export diversification, with an emphasis on boosting value addition and reducing reliance on raw commodity exports. Africannewspage.net said the funding would also help South African firms take advantage of opportunities under the African Continental Free Trade Area (AfCFTA).
Beyond the initial $8 billion, Afreximbank has outlined plans for additional financing aimed at promoting inclusive growth, including targeted support for small and medium-sized enterprises. Analysts say South Africa’s membership could enhance the bank’s balance sheet while giving the country broader access to trade finance and development capital.
