President Cyril Ramaphosa on Tuesday witnessed the signing of South Africa’s Instrument of Accession to the African Export–Import Bank, formally elevating the country to Class A shareholder status and strengthening its position within the continent’s leading trade finance institution.
President Cyril Ramaphosa was joined at the signing ceremony by Dr. George Elombi, President and Chairman of the Board of Directors of the African Export–Import Bank (Afreximbank), marking a milestone in South Africa’s economic diplomacy. The signing of the Instrument of Accession confirms South Africa’s transition from a participating member to a Class A shareholder, placing it among the bank’s African sovereign owners.
Class A shareholder status carries both symbolic and practical weight. It grants South Africa enhanced voting rights and a stronger voice in the governance of Afreximbank, an institution that has become central to financing trade, infrastructure and industrial projects across the continent.
The Presidency said the partnership with Afreximbank will support priority areas including industrial competitiveness, economic transformation and inclusive growth, while accelerating the expansion of intra-African trade and investment under the African Continental Free Trade Area.
Afreximbank has positioned itself as a cornerstone of Africa’s trade finance system, providing funding, guarantees and payment solutions aimed at reducing structural barriers to cross-border commerce. South Africa’s accession is expected to strengthen these efforts, particularly in Southern Africa.
Government officials say the move signals renewed commitment to regional integration at a time of global economic uncertainty. Whether the expanded partnership translates into tangible gains for jobs, exports and industrial growth will depend on implementation in the years ahead.