South Africa officially acceded to the African Export-Import Bank on 4 February 2026. The signing ceremony took place in Johannesburg and was attended by President Cyril Ramaphosa, Afreximbank President George Elombi and Trade, Industry and Competition Minister Parks Tau. The country now holds Class A shareholder status and becomes the bank’s 54th member.

Afreximbank announced an $8 billion country programme under the Afreximbank South Africa deal. This funding backs projects in mining, energy, mineral processing, automotive manufacturing, industrial parks and specialised economic zones. The programme aligns with South Africa’s National Development Plan 2030 and national industrial priorities.

Funding Targets Industrial Growth and Transformation

The Afreximbank South Africa package includes an additional $3 billion for inclusive growth. This supports small and medium enterprises, township enterprises and black-owned businesses through the Transformation Fund. Afreximbank’s current project pipeline in South Africa already exceeds $6 billion across healthcare, manufacturing, energy and mining.

President Ramaphosa described the accession as a major milestone.

“South Africa’s accession to the African Export-Import Bank affirms our commitment to African industrial development and to deepening trade, investment and development across the continent,” he said.

The partnership strengthens intra-African trade. South Africa contributed 19.1% of the continent’s total trade in 2024.

Leaders Welcome Strategic Partnership

George Elombi praised the Afreximbank South Africa deal at the ceremony. He said the $8 billion package prioritises mineral processing and automotive expansion while advancing continental economic integration. Ramaphosa highlighted immediate support for black businesses previously disadvantaged by apartheid. Both leaders addressed the event directly.