Afreximbank Lines Up $8bn Financing Package For South Africa’s Mining, Auto And Manufacturing Sectors
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South Africa was unable to join Afreximbank at its 1993 founding due to apartheid, but last year its cabinet approved upgrading to “Class A” shareholding status.
Afreximbank President George Elombi said at a Johannesburg event: “We’ve put together an important package worth 8 billion United States Dollars... for South Africa.”
Priorities include mineral processing, automotive industry expansion and development of industrial parks and specialised zones.
Membership gives Africa’s largest economy access to new trade finance tools amid escalating U.S. tariff pressures, including President Trump’s 30% levy on South African exports imposed last August.
President Cyril Ramaphosa said closer Afreximbank ties underscore South Africa’s commitment to African industrial development, deeper intra‑continental trade, investment and growth.
Afreximbank has faced questions over loan restructurings for defaulting members, but Elombi described its treasury as “extremely sound” and sufficient for objectives, emphasising policy alignment with members.
