South Africa, Afreximbank Sign US$14B Program

African Export–Import Bank and the Government of South Africa, through the South Africa — Department of Trade, Industry and Competition, signed a Memorandum of Understanding (MoU) in Alamein, Egypt, on June 20, 2026. This MoU establishes a US$14 billion country program to advance South Africa's industrial development, trade expansion, and regional integration. The program will deploy financing and non-financial interventions, including US$3 billion for the Afreximbank Inclusive Development Support Programme for South Africa, aimed at addressing structural gaps and expanding access to finance for disadvantaged groups. Key areas of collaboration include investments in industrial infrastructure, energy generation, mineral beneficiation, and agricultural processing, as well as promoting trade under the African Continental Free Trade Area. The agreement also involves re-launching the South Africa-Africa Trade and Investment Promotion Programme (SATIPP) 2.0 and supporting the establishment of a South Africa Exim Bank.