South Africa Secures $14 Billion Afreximbank Programme to Propel Industrial Development

The government is intensifying efforts to strengthen state capacity and unlock development finance to drive industrialisation following the acquisition of a US$14 billion funding programme from Afreximbank.

The Department of Trade, Industry and Competition (DTIC) and Afreximbank have signed a Memorandum of Understanding (MoU) that unlocks a substantial US$14 billion Country Programme.

DTIC Minister Parks Tau recently concluded a working visit to Egypt, where the agreement was signed, marking a significant milestone after South Africa joined Afreximbank as a full sovereign Class A shareholder in April.

Headquartered in Egypt, Afreximbank is a multilateral financial institution created to facilitate, promote, and expand intra‑African and extra‑African trade.

The newly announced Country Programme will grant South African businesses, state‑owned enterprises, and financial institutions access to trade and industrial finance, transformation funding, risk‑mitigation instruments, and project finance.

The funding is also expected to support South African companies expanding into continental markets under the African Continental Free Trade Area (AfCFTA).

Tau led a delegation of senior officials from DTIC and its entities to strategic engagements with Afreximbank representatives in Al Alamein, Egypt, chaired by the bank’s President, culminating in the MoU signing.

He said the partnership will enhance South Africa’s capacity to support exports, attract investment, and advance economic transformation by improving access to critical funding.

The proposed Country Programme is designed to support South Africa’s objectives related to structural economic transformation, industrialisation, export development, and regional economic integration.

Under the proposed multi‑year programme, Afreximbank will deploy a coordinated package of financing, risk‑mitigation, advisory and catalytic interventions targeting priority industrial sectors—including manufacturing, mineral beneficiation, energy and infrastructure, special economic zones and industrial parks—as well as the development of intra‑African trade and participation in the AfCFTA,

He emphasised that the programme represents far more than a financing package.

It is a strategic trade and industrial partnership that will support South Africa’s key economic transformation goals, including positioning the country as a global leader in green hydrogen and critical minerals.

It will also support efforts to redistribute economic power through inclusive industrialisation, strengthen African value chains, and deepen AfCFTA integration, thereby helping build lasting trade infrastructure across the continent.

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