Write Hatem Mohamed
South Africa and Afreximbank Seal $14bn Deal in Alamein
The African Export-Import Bank (Afreximbank) and the Government of the Republic of South Africa, through the Department of Trade, Industry and Competition (“the dtic”), have signed a Memorandum of Understanding (MoU) to advance South Africa’s industrial development, trade expansion, and regional integration.
$14 Billion Programme Launched to Support Key Sectors
Signed in Alamein, Egypt, on 20 June 2026, the MoU establishes a US$14 billion country programme. Under the agreement, Afreximbank will deploy a mix of financing and non-financial interventions to support South Africa’s development priorities as one of Africa’s largest economies.
Elombi and Minister Tau Sign the MoU
The agreement was signed by Dr. George Elombi, President and Chairman of the Board of Directors of Afreximbank, and Hon. Mpho Parks Tau, South Africa’s Minister of Trade, Industry and Competition.
Partnership Follows South Africa’s Afreximbank Membership
The partnership marks a significant step to deepen cooperation after South Africa’s accession to the Afreximbank Establishment Agreement in February 2026. The MoU will support investment in industrial infrastructure, energy generation and transmission, and other projects that enhance South Africa’s industrial competitiveness and trade links across the continent.
$3 Billion Allocated for Inclusive Economic Growth
The Country Programme includes the Afreximbank Inclusive Development Support Programme for South Africa. It aims to address structural economic gaps and expand finance access for previously disadvantaged groups. The Bank has earmarked US$3 billion for this initiative to enable asset building and participation in strategic sectors.
Elombi: Deal Will Unlock Investment in Strategic Sectors
Dr. George Elombi said: “With this MoU, we have taken a significant step to strengthen our partnership and advance Africa’s economic integration. The programme will unlock investment into minerals and agriculture processing, expand trade under the AfCFTA, promote South African investment across Africa, and advance financial and economic inclusion.”
Minister Tau: MoU to Strengthen AfCFTA Implementation
Hon. Mpho Parks Tau noted: “The MoU seeks to advance the AfCFTA by promoting stronger regional value chains and addressing cross-border constraints that inhibit the free flow of goods, services, and capital.”
Collaboration to Cover Exim Bank, SEZs and Renewable Energy
Other areas of cooperation include relaunching SATIPP 2.0, establishing a South Africa Exim Bank with technical and seed funding support, financing industrial parks and Special Economic Zones, co-financing renewable energy and mineral beneficiation projects, and providing technical assistance and advisory services.
Programme Aligned with South Africa’s NDP 2030
The Country Programme aligns with South Africa’s National Development Plan 2030, the Medium Term Development Plan 2024-2029, the GAIN Implementation Plan, and the country’s industrial and trade strategies.
