By Bassey Udo
Certification Partner Global (CPG) has certified African Export-Import Bank (Afreximbank) as compliant with the ISO 31000:2018 Risk Management Standard.
The certification marks a significant milestone in the Bank’s institutional evolution and commitment to world-class operational excellence as Africa’s leading trade finance institution.
Issued in November 2025, the registration followed rigorous independent assessments of the .Bank’s enterprise risk management framework by external auditors, with zero non-conformities.
The Bank said the certification places the pan-African multilateral trade finance institution alongside leading global development banks and financial institutions that have attained the prestigious standard.
ISO 31000:2018, developed by the International Organisation for Standardization (ISO), represents the gold standard in risk management practices globally.
It provides comprehensive principles and guidelines covering risk management design, governance, implementation, evaluation, and integration across organisations.
The certification validates Afreximbank’s risk management framework as meeting international best practices while addressing the unique complexities of operating across 54 African member states and the Caribbean Community (CARICOM).
In his reaction Group Managing Director, Risk Management & Chief Risk Officer at Afreximbank, Dr Elias Kagumya, said: “Attaining ISO 31000:2018 registration is not just about global recognition; it represents years of deliberate investment in building institutional capacity and embedding a proactive risk culture throughout our organization.
“As a treaty-based institution with a $45 billion balance sheet supporting African trade across diverse markets, we recognize that effective risk management is fundamental to delivering our mandate,* he added.
“This feat assures our stakeholders – member states, commercial banks, investors, and the businesses we serve – that we operate with the same risk maturity as the world’s leading financial institutions.
“Our Risk Management Framework further provides a bank-wide approach to managing risks and protecting the Bank’s goals. By carefully identifying, understanding, and monitoring risks across all areas of its operations, from business strategy to environmental and mandate-related issues, the framework ensures that key programmes, platforms, and financial tools are managed in a stable and well-controlled manner.”
The Bank said the accreditation aligns with its Strategic Plan VI priorities – Building a Mature Risk Management Framework – and reflects the Bank’s commitment to continuous improvement in governance, transparency, and operational standards.
7In 2025, Afreximbank launched a comprehensive benchmarking project of its Enterprise Risk Management (ERM) framework against ISO 31000:2018, working with CPG as the independent accreditation body.
The Bank said the ISO certification achievement has delivered tangible benefits across Afreximbank’s operations.
The ISO 31000:2018 framework strengthens stakeholder confidence by demonstrating the maturity of the Bank’s risk management systems and its commitment to continuous improvement.
Also, it enhances entity-wide risk culture by promoting proactive risk identification and mitigation across the Bank’s complex operating environment.
The ISO 31000 standard also provides structured guidance for integrating risk considerations into strategy formulation, financial planning, initiatives management, and supporting informed decision-making.
In addition, the standard creates efficiency gains through the adoption of formal guidelines for monitoring, reviewing, and improving risk management practices, including enhanced tools for reporting and communicating risks bank-wide. It strengthens the Bank’s overall control environment by validating the effective implementation of sound risk management practices and tools.
Also commenting, Certification Partner Global (CPG), the global accreditation body which issued the certification stated, “Afreximbank’s Risk Management Framework represents a comprehensive and sophisticated approach to enterprise-wide risk governance.
The Bank, he said, has demonstrated exceptional capability in identifying, assessing, treating, and monitoring risks across its diverse strategic programmes, platforms, and core instruments through a well-structured Risk Universe that addresses nine critical risk categories; from Strategy and Business Risk to Mandate Risk.
“This framework’s alignment with international best practices, as evidenced in the Afreximbank’s Enterprise Risk Management Framework (Version 1.1, March 2024), reflects the Bank’s commitment to robust risk governance and positions it as a leader in institutional risk management within the global financial services landscape.
“We are pleased to certify this framework, which provides a solid foundation for Afreximbank to pursue its strategic objectives while maintaining the highest standards of risk oversight and operational resilience.”
The accreditation comes at a pivotal moment for African trade integration, as Afreximbank continues to play a central role in operationalizing the African Continental Free Trade Area (AfCFTA).
The Bank’s commitment to robust risk management underpins critical initiatives including the Pan-African Payment and Settlement System (PAPSS), which now connects 19 countries and over 160 commercial banks, and the Africa Trade Gateway (ATG), which is transforming cross-border commerce across the continent.
Afreximbank’s achievement of ISO 31000:2018 registration reinforces its position not only as Africa’s premier trade finance institution but as a globally competitive development bank committed to the highest standards of institutional governance and operational excellence.
Meanwhile, the Bank says it has formally terminated its credit rating relationship with Fitch Ratings agency.
The Bank said the decision followed a review of the relationship, and its firm conviction that the credit rating exercise no longer reflected a good understanding of its Establishment Agreement, its mission and its mandate.
Afreximbank said despite the decision, its business profile remains robust, underpinned by strong shareholder relationships and the legal protections embedded in its Establishment Agreement, signed and ratified by its member states.
Afreximbank is a Pan-African multilateral financial institution with the mandate to finance and promote intra- and extra-African trade.
