South Africa has reached a milestone in its continental economic agenda. On 4 February 2026, in Johannesburg, Pretoria formalised its membership of Afreximbank. The country has become a Category A sovereign shareholder. This decision represents a long-term commitment to its industrial and commercial trajectory in Africa. This membership is accompanied by a major financial commitment from Afreximbank through its USD 8 billion country programme designed to support the South African economy, strengthen industrial capacity and facilitate trade.
The act is formal, the implications strategic. By signing the Instrument of Accession to the Agreement Establishing Afreximbank, South Africa has joined the pan-African trade bank’s core decision-making body. The ceremony took place on Wednesday 4 February 2026 in Johannesburg, attended by President Cyril Ramaphosa, the Chairman of the Afreximbank Board of Directors Dr George Elombi, government officials, business leaders and members of the diplomatic corps. This accession is accompanied by a significant financial commitment. Afreximbank is launching an $8 billion programme for South Africa to support the economy, strengthen industrial capacity and facilitate trade. South African private companies, commercial banks, and state-owned enterprises will have direct access to trade finance mechanisms, AfCFTA-related credit lines, and risk hedging tools.
For South Africa, the decision to join Afreximbank represents a strategic alignment. We want to contribute to an Africa that prioritizes intercontinental trade, builds its own industrial base and capacity, and also mobilizes African financial institutions to support development.
CYRIL RAMAPHOSA, President of the Republic
Beyond the symbolism, the architecture is operational. Afreximbank is mobilizing a $10 billion adjustment fund to support the implementation of the African Continental Free Trade Area and is piloting the Pan-African Payments and Settlement System, adopted by the African Union.
We also want to facilitate access to regional and continental markets […] We need to develop more markets within the framework of the AfCFTA agreement, which our brother Wamkele Mene spoke about.” We will work with institutions such as the Industrial Development Corporation, IDC, the Development Bank of South Africa, DBSA, and financial institutions, particularly commercial banks.
GEORGE ELOMBI, President of Afreximbank
With over $40 billion in assets and $7.2 billion in equity, Afreximbank is thus consolidating its role as a continental financial instrument. By joining the Bank, South Africa is not entering into a short-term agreement. It is embarking on a long-term trajectory where intra-African trade becomes a lever for growth, economic sovereignty, and strategic projection.
