The African Export-Import Bank, known as Afreximbank, has secured a US$2 billion three-year dual tranche syndicated term loan facility, marking the largest syndicated borrowing in the bank’s history and underscoring continued lender appetite for Africa-focused trade finance.
The Cairo-based multilateral lender said the transaction was concluded on March 9 and formally disclosed in a statement published on March 30, describing it as its biggest-ever syndicated facility. Syndicated loans are arranged by a group of banks and institutional lenders, allowing a borrower to raise large sums from multiple creditors rather than relying on a single financing source.
The new facility expands Afreximbank’s access to international liquidity at a time when demand for trade and project financing across Africa remains high, driven by infrastructure gaps, rising import needs, and efforts to deepen intra-African commerce under the African Continental Free Trade Area (AfCFTA). Afreximbank has positioned itself as one of the continent’s most active financiers of trade, industrialization and sovereign-backed strategic projects.
While the bank did not immediately disclose the detailed pricing structure or all participating lenders in the public summary, the size of the facility places it well above some of its previous benchmark borrowings. Afreximbank raised US$1.2 billion through a three-year syndicated term loan in 2021, after lenders more than doubled commitments from the original launch size. In June 2024, the bank also closed a US$500 million dual tranche syndicated term loan facility aimed at diversifying its funding base, particularly among Asian lenders.
The latest fundraising comes as Afreximbank continues to play a larger role not just as a borrower, but also as an arranger and structurer of major African financing transactions. In recent months, the bank has helped coordinate large-scale facilities for energy, trade and industrial projects, including transactions involving Nigeria’s oil sector and Angola’s state energy company. Earlier this month, Bloomberg’s Africa Borrower Loans League Tables ranked Afreximbank as the continent’s top mandated lead arranger and bookrunner for 2025, underscoring its expanding influence in African debt markets.
Analysts say the successful close of a US$2 billion facility is significant given the still-challenging global credit environment, where higher interest rates and tighter risk pricing have made fundraising more expensive for many emerging market borrowers. For African institutions, the ability to secure large syndicated loans from international lenders is often viewed as a signal of market confidence in both the borrower’s balance sheet and its strategic role.
Afreximbank has built that reputation partly on its crisis-response interventions and its financing of trade-enabling infrastructure. Over the past decade, it has significantly expanded its balance sheet and increased disbursements to African governments, corporates and financial institutions. As of recent disclosures, the bank has also maintained investment-grade credit ratings from agencies including Moody’s, Fitch, GCR, and the Japan Credit Rating Agency, helping it tap global funding pools on more favorable terms than many sovereign borrowers on the continent.
The new facility is expected to strengthen Afreximbank’s ability to support a pipeline of transactions linked to trade finance, industrial expansion, food security, energy infrastructure and cross-border payments. The bank has also been central to the rollout of the Pan-African Payment and Settlement System (PAPSS), which aims to reduce the cost and friction of cross-border trade within Africa.
For African borrowers and businesses facing tighter global financing conditions, Afreximbank’s record syndication suggests that well-rated regional institutions may continue to serve as a critical bridge between international capital and the continent’s development needs.
