Overview
- South Africa formally acceded to Afreximbank in Johannesburg on 4 February, becoming a Class A shareholder with a board seat.
- Afreximbank unveiled a $8 billion country programme prioritising mineral beneficiation, automotive manufacturing, industrial parks and special economic zones, plus energy generation and transmission aligned with AfCFTA objectives.
- A separate $3 billion inclusive financing instrument will support SMEs, township and black-owned enterprises, and other historically marginalised businesses, developed with the dtic and the National Transformation Fund.
- Implementation will proceed with South African partners including the IDC, DBSA, PIC and commercial banks, with an existing project pipeline in the country exceeding $6 billion.
- Some outlets reported an $11 billion total, while official statements emphasised a $8 billion package alongside a distinct $3 billion inclusive facility.