Ramaphosa Hails SA’s Afreximbank Accession as Boost for African Trade

President Cyril Ramaphosa has described South Africa's accession to the African Export–Import Bank (Afreximbank) as a major milestone in advancing Africa's economic integration, industrial development and intra-continental trade.

The President was delivering the keynote address at the Afreximbank Accession Signing Ceremony held at the Westcliff Hotel in Johannesburg on Wednesday.

"Today, we mark a major milestone in our quest to realise the economic integration of our continent. 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," President Ramaphosa said.

Strategic Shift to Class A Shareholder Status

The signing ceremony marked South Africa's formal transition to Class A Shareholder status in Afreximbank, activating a strategic partnership aimed at advancing industrial development, export-led growth and deeper intra-African trade integration.

Afreximbank is a pan-African multilateral financial institution that facilitates and finances intra- and extra-African trade, playing a central role in supporting industrialisation and economic development across the continent.

Country Programme to Support Strategic Projects

Once finalised, the South Africa–Afreximbank Country Programme will be operationalised through a dedicated finance package to support strategic projects across trade and industrial clusters.

The programme is expected to inject capital into:

• Priority industrial projects

• Export diversification initiatives

• Infrastructure development

• Economic transformation programmes

"Today's signing signals a deliberate, ambitious and more impactful phase in South Africa's economic engagement with Africa and the world," the President said.

Strengthening Resilience Amid Global Uncertainty

President Ramaphosa noted that South Africa's accession comes at a time of global economic uncertainty, climate risks and shifting trade patterns, making regional cooperation and financial resilience increasingly critical.

He said South Africa is implementing far-reaching structural reforms to restore growth, improve competitiveness and expand inclusion, alongside increased infrastructure investment and targeted industrial policy.

Industrialisation Anchored on Three Pillars

The President outlined South Africa's industrialisation strategy as being anchored on three mutually reinforcing pillars:

• Decarbonisation

• Diversification

• Digitisation

He said South Africa is pursuing an energy transition that balances climate imperatives with development needs, while building new industrial capabilities and creating jobs.

"That is why we are investing in renewable energy, green hydrogen, sustainable fuels and climate-resilient infrastructure," he said.

He added that South Africa is also focused on beneficiation of critical minerals required for clean energy technologies—sectors where African countries hold a strong competitive advantage.

AfCFTA and Regional Value Chains

President Ramaphosa emphasised that through the African Continental Free Trade Area (AfCFTA), South Africa is working to build regional value chains that anchor production on the continent and strengthen Africa's economic sovereignty.

He described Afreximbank's instruments—trade finance, project preparation, risk mitigation and market access support—as indispensable in turning this vision into reality.

Inclusive Development at the Centre

The President highlighted the Afreximbank Inclusive Development Support Programme for South Africa, which sets aside a dedicated facility to address structural barriers that have historically excluded many South Africans from participating in trade and industrialisation.

The programme will support:

• Small and medium enterprises

• Black industrialists

• Women- and youth-owned businesses

Towards a South African Export–Import Bank

South Africa's accession also brings the country closer to establishing a South African Export–Import Bank, to be developed in collaboration with Afreximbank and building on the experience of the Export Credit Insurance Corporation.

"This is a strategic investment in our ability to compete and to support South African firms across the export lifecycle," President Ramaphosa said.

Acknowledging Leadership and Partnership

In closing, the President acknowledged the leadership of Afreximbank President and Board Chair Dr George Elombi and former President Professor Benedict Oramah, under whose tenure South Africa's accession process was initiated.

He also thanked Minister of Trade, Industry and Competition Parks Tau for advancing South Africa's trade and industrial agenda.

"Let this moment mark not only South Africa's full membership of Afreximbank, but the activation of a partnership that delivers growth, transformation and opportunity for our country and for our continent," President Ramaphosa said.