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Africa Finance Corporation Maintains its Top-Tier AAA Ratings with Stable Outlook from China Chengxin International Credit Rating Co. Ltd (CCXI) and from S&P Global (China) Ratings

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Africa Finance Corporation

These renewals underscore continued confidence in AFC’s resilient balance sheet, disciplined capital management, robust liquidity position, and consistent execution of its mandate to accelerate infrastructure-led industrialisation across Africa

LAGOS, Nigeria, June 16, 2026/APO Group/ –Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has received renewed top-tier credit ratings with stable outlooks from China Chengxin International Credit Rating Co. Ltd (CCXI) and S&P Ratings (China) Co., Ltd. (S&P Global (China) Ratings), reaffirming the Corporation’s strong financial profile, prudent risk management framework, and growing strategic relevance within global capital markets.

 

CCXI affirmed AFC’s AAA domestic issuer credit rating with a stable outlook, while S&P Global (China) Ratings also affirmed AFC’s AAAspc issuer credit rating with a stable outlook. These renewals underscore continued confidence in AFC’s resilient balance sheet, disciplined capital management, robust liquidity position, and consistent execution of its mandate to accelerate infrastructure-led industrialisation across Africa.

The renewed credit ratings further strengthen AFC’s position within China’s domestic debt capital markets and support the Corporation’s strategy to diversify funding sources, broaden investor access, and mobilise long-term capital for transformative infrastructure projects across the continent.

“AFC has established sound risk management processes and governance mechanisms to proactively and systemically address asset deterioration and challenges arising from market and economic fluctuations. Its comprehensive risk management framework is supported by a professional management team, including the Board Risk and Investment Committee… These entities work in concert to monitor key risk areas, including credit risk, market risk, operational risk, asset and liability management risk, and environmental and social risk”, CCXI analysts concluded in their report. “AFC adopts a prudent risk appetite and enforces strict risk exposure limits to ensure portfolio diversification. Industry exposure is capped at 35% of the total investable funds.”

S&P Global (China) Ratings noted AFC’s strong liquidity profile, robust governance standards, resilient asset quality, and sufficient capital buffers, even under challenging market conditions. ”AFC’s issuer credit rating of AAAspc is mainly based on its stand-alone credit profile in terms of high policy importance, disciplined capital management and sufficient liquidity buffer,…” S&P Global (China) Ratings wrote. ”AFC adheres to a highly conservative approach to liquidity management. It employs the Minimum Liquidity Level (MLL) and the Liquidity Coverage Ratio (LCR), among other critical indicators and triggers, to mitigate liquidity risks. Both the MLL and LCR are determined based on  an 18-month business-as-usual (BAU) scenario and a 12-month stressed scenario. As of the end of 2025, the LCR stood at 203% under BAU assumptions (year-end 2024, 194%) and 207% under a stressed scenario (year-end 2024, 191%),” they added.

The dual reaffirmations build on AFC’s successful expansion into China’s financial markets and reflect growing international recognition of the Corporation’s role

Commenting on the affirmations, Banji Fehintola, Executive Board Member & Head, Financial Services at AFC, said, ”The dual reaffirmations build on AFC’s successful expansion into China’s financial markets and reflect growing international recognition of the Corporation’s role as a trusted infrastructure financier for Africa. It recognises our financial resilience, robust governance, and global reach, and will enable stronger ties with Asian markets to drive critical investment in economic development, high-value job creation, and Africa’s prosperity.”

AFC has continued to deepen its strategic partnership with China’s foremost financial institutions, advancing a relationship that has grown steadily in scale, sophistication and ambition. In 2025, AFC and the Export-Import Bank of China (CEXIM) signed a landmark partnership agreement to promote Chinese-African trade through catalytic infrastructure projects in priority sectors across AFC’s member countries. The collaboration builds on a relationship of considerable standing. CEXIM had earlier extended AFC a five-year loan facility designed to enhance trade finance and bolster private -sector initiatives, an early engagement that established the foundation of trust on which subsequent transactions have been built.

In 2024, AFC finalised a US$1.16 billion syndicated loan facility co-led by Bank of China and the Industrial and Commercial Bank of China (ICBC), London Branch, in conjunction with other global banks. The momentum carried into 2025, when AFC secured a US$1.5 billion syndicated facility from a consortium of leading Asian and Middle Eastern banks, with Bank of China serving as Initial Mandated Lead Arranger and Bookrunner. The transaction notably broadened AFC’s base of Chinese partners, attracting first-time lenders including Bank of Communications and Hua Nan Commercial Bank.

This trajectory culminated in AFC’s largest syndicated loan facility to date — a US$2 billion syndicated transaction with Bank of China and ICBC acting as Initial Mandated Lead Arrangers and Bookrunners, and CEXIM, Hua Nan Commercial Bank and China Construction Bank, among others, participating as lenders. The facility stands as a powerful endorsement of AFC’s credit standing and the strength of its relationships across the Chinese banking sector.

Together, these strategic collaborations with China’s leading financial institutions exemplify AFC’s commitment to diversifying its funding sources, broadening its investor base and forging enduring global partnerships in the service of Africa’s economic development.

 

Read the full ratings report by CCXI here: CCXI 2026 Credit Rating Report (https://apo-opa.co/3StHp3b) and by S&P Global (China) Ratings here: S&P Global (China) 2026 Credit Rating Report (https://apo-opa.co/3ScXxGi).

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Business

Afreximbank Trade and Development Finance Brief highlights urgent need to strengthen Africa’s trade and investment resilience

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Afreximbank

According to the brief, the African Continental Free Trade Area (AfCFTA) remains central to efforts aimed at diversifying the continent’s trade base, strengthening regional value chains and increasing intra-African trade

CAIRO, Egypt, June 16, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com) has released Volume 10, Issue 1 of its Trade and Development Finance Brief, titled “Africa’s Trade and Investment Landscape”, which examines the structural challenges shaping Africa’s trade performance and investment outlook in an increasingly uncertain global environment.

 

The current edition highlights that Africa’s trade landscape remains heavily dominated by export of raw materials, including agricultural products, oil, gas and minerals, while imports continue to be heavily skewed towards manufactured goods and machinery. The Brief notes that the existing export-import configuration leaves many African economies overly exposed to unfavourable terms of trade shock on account of external headwinds, including commodity price volatility, geopolitical tensions and associated global supply chain disruptions.

According to the brief, the African Continental Free Trade Area (AfCFTA) remains central to efforts aimed at diversifying the continent’s trade base, strengthening regional value chains and increasing intra-African trade. The publication notes that, alongside the African Union’s Agenda 2063, the AfCFTA provides a practical framework for integrating fragmented markets, expanding industrial production and boosting productivity, with intra-African exports projected to increase by more than 20 percent within a decade as implementation advances.

Additionally, the brief further highlights the importance of scaling investment in trade-enabling infrastructure, including energy, transport, communications networks, ports and logistics systems, to reduce the cost of doing business and improve cross-border trade flows. It notes that targeted infrastructure investment can support industrialisation, strengthen regional specialisation, and improve Africa’s competitiveness as an investment destination.

Regional development finance institutions, including the African Export-Import Bank, are playing an increasing role in supporting intra-African trade

The edition also points to a broader set of priorities for strengthening Africa’s trade and investment ecosystem, including regulatory coherence, institutional strengthening, economic diversification, improved access to finance for small and medium-sized enterprises, and greater use of digital financial technologies. The Brief notes that domestic and foreign investment are increasing across many African economies, while fintech is contributing to growth in domestic investment, underscoring the opportunity to build a more resilient, diversified and investment-ready trade landscape.

It also notes that domestic and foreign investment are increasing across many African economies, notwithstanding the observed dominance of foreign investment. It further highlights that the direction of investment flows remains uneven across sub-regions, with Eastern and Southern Africa receiving a larger share of foreign direct investment compared to Western and Central Africa.

Afreximbank said the findings reinforce the need for coordinated action to expand trade finance, improve trade-enabling infrastructure, deepen regional integration and accelerate value addition across the continent.

Dr. Yemi Kale, Group Chief Economist and Managing Director, Research says “Regional development finance institutions, including the African Export-Import Bank, are playing an increasing role in supporting intra-African trade through trade finance and related initiatives. The Brief points to Afreximbank initiatives such as the Intra-African Trade Fair, the Pan-African Payment and Settlement System, the AfCFTA Adjustment Fund, the Border Markets Initiative and the Collaborative Transit Guarantee Scheme as part of the wider effort to strengthen Africa’s trade and investment ecosystem.

The report concludes that while progress is being made, significant gaps remain. Addressing these gaps will be essential to increasing financing, strengthening competitiveness and unlocking Africa’s full trade and investment potential.”

Read more about the Afreximbank Trade and Development Finance Brief Highlights here: https://apo-opa.co/3QGrGgN

Distributed by APO Group on behalf of Afreximbank.

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From Ancient Delicacy to Global Trend: The Industrial Upgrade and Global Journey of Ningxia Goji Berries

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Ningxia Goji Berries

ZHONGWEI, CHINA – Media OutReach Newswire – 16 June 2026 – Lush plantations glitter across the sun-drenched Yellow River alluvial plain at an elevation of 1,100 meters on the eastern flank of the Helan Mountains. This is Zhongning County in the Ningxia Hui Autonomous Region, located in northwestern China. As the opening ceremony of the 9th Goji Berry Industry Expo officially kicks off on June 14th here, farmers are busy harvesting the first goji berries of 2026.

Ningxia Goji Berries

While goji berries are widely cultivated across China, Ningxia goji berries stand out for their exceptional quality and have become the region’s most iconic specialty. As the core producing area of authentic Ningxia goji berries, also known as wolfberries, Zhongning enjoys over 3,000 hours of annual sunlight. The weakly alkaline soil, formed by the convergence of the Yellow River and Qingshui River, is rich in essential minerals and trace elements. These unique natural conditions have given birth to this distinctive “Magic Fruit.”

“Every single goji berry is hand-picked,” said Pan Tai’an, chairman of Ningxia Wolfberry Goji Industry Co., Ltd., a leading regional goji producer. “The goji trees blossom and bear fruit simultaneously, which means all berries must be harvested manually.”

“Thanks to Ningxia’s cool climate, pests and diseases are rare here. Still, we never use chemical fertilizers or pesticides. We only apply organic compost to guarantee the pure, natural quality of our goji berries,” he added.

From a Local Specialty to a Health and Lifestyle Trend

In China, Ningxia goji berries have been treasured as a medicinal and edible delicacy. It is the only goji variety officially listed for medicinal use in the Pharmacopoeia of the People’s Republic of China. The ancient Chinese medical masterpiece, the Shennong Ben Cao Jing (Classic of Materia Medica), documents their anti-aging properties. This profound cultural heritage has laid a solid foundation for Ningxia goji berries to enter international markets.

Today, this ancient red berry has gained unprecedented global popularity. Boasting powerful anti-aging benefits, high vitamin C content, and abundant antioxidants, Ningxia goji berries have become a trending “superfood” on international social media. Overseas consumers are willing to pay a premium for authentic Ningxia products, freeing the berry from its former identity as a niche, rustic specialty.

“Western researchers have long been studying the health benefits of goji berries, including immune enhancement, anti-tumor effects, and anti-aging properties. They call it a ‘superfood’ and extract its active ingredients for use in health supplements and cosmetics,” Pan Tai’an explains. “This inspired me to focus on deep processing, because that’s where the real value lies.”

For decades, the industry was held back by two major bottlenecks: the extreme perishability of fresh berries and underdeveloped deep-processing technology. To address these issues, the company invested six years in intensive R&D and successfully developed ambient-temperature preservation technology for goji puree. This pioneering breakthrough fills a technical gap and sets world-leading standards for the global goji industry.

To retain precious nutrients, fresh goji berries go through cleaning, pulping, sterilization and canning within two hours after harvest. This rigorous workflow best preserves key nutrients including goji polysaccharides, betaine and zeaxanthin to the greatest extent possible.

Powered by this core innovation, the company has produced over 100,000 tons of goji puree, with total sales exceeding 2 billion yuan (about 293 million U.S. dollars). More importantly, the technology has driven the construction of 50 high-standard production lines across Ningxia, marking a decisive shift – transforming the regional industry from raw material sales to high-value product manufacturing.

According to the latest data provided by the Goji Industry Development Center of the Ningxia Forestry and Grassland Administration, Ningxia’s goji marketing network covers more than 50 countries and regions spanning Southeast Asia, Europe, and the Americas. In 2025, Ningxia’s fresh goji berry output reached 200,000 tons, with the full industrial chain output value exceeding 21.3 billion yuan.

From Product Upgrade to a Global Cultural Brand

While technology-driven companies like Ningxia Wolfberry are deepening their presence in international supply chains, emerging players in the goji industry are reshaping the consumer perception of goji berries as “just a traditional medicinal herb.” As a leader in e-commerce, Ningxia Qilixiang Goji Co., Ltd. is dedicated to promoting this traditional tonic to the younger generation. Founded in 2009 by three university students with a startup fund of just 700 yuan from their living allowances, the company has now grown into a top-tier brand with annual sales exceeding 1 billion yuan.

To transform traditional wellness into a trendy lifestyle, Qilixiang has developed a variety of blended purees – such as goji-ginseng, red date-goji, and mulberry-goji – all paired with eye-catching packaging. Operating about 200 online stores, the company has consistently ranked first in e-commerce sales for goji products.

These Innovative, high-value-added products derived from goji berries – including goji puree, goji seed oil, and goji juice – are now enjoying immense global demand. Once viewed as a mysterious Chinese herbal remedy, Ningxia goji berries have now become part of daily life for middle-class families from New York to London, a favorite among Hollywood celebrities, and a common ingredient in premium restaurants worldwide.

The international reputation is built on rigorous quality control. To meet the highest global food safety standards for organic products, Ningxia goji companies adhere to the world’s most stringent regulations. For instance, Ningxia Wolfberry has held organic certifications from North America, the European Union and Japan for 21 consecutive years, earning a “green pass” to the global market. To date, its products have been exported to 33 countries and regions worldwide.

Today, Ningxia’s goji industry is no longer confined to production and sales; it is gradually embracing a diversified development model. With the establishment of goji art galleries, history museums, and experience centers, the industry is shifting from merely “selling products” to “selling scenery” and “selling culture,” growing into a multi-faceted and integrated economic driver.

The transformation of Ningxia goji berries reflects the progress and the rise of Chinese products and brands. It has evolved from a little-known northwest specialty and low-end raw material exporter into a global health trend and a modern, diversified industry fueled by technology, creativity, and culture. This journey mirrors the broader transformation of China’s traditional agriculture and the innovative drive of its real economy.

 

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Energy

Geoex MCG Named Official Geosciences Partner of Venezuela Energy Week 2026 in Landmark Subsurface Collaboration

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Etu Energias

Geoex MCG, a global subsurface geoscience and data solutions provider, has been appointed Official Geosciences Partner for Venezuela Energy Week, bringing technical depth and geological credibility to discussions surrounding one of Latin America’s most significant hydrocarbon resource bases

CARACAS, Venezuela, June 15, 2026/APO Group/ –Venezuela Energy Week 2026 has appointed Geoex MCG as its Official Geosciences Partner, in a move designed to strengthen the technical foundation of discussions around the country’s vast hydrocarbon basins as upstream activity and international engagement continue to evolve.

Geoex MCG holds a unique position in Venezuela’s upstream sector as the sole provider of offshore seismic data and the only company operating under a multi-client agreement with the Ministry of Hydrocarbons. Its newly reprocessed offshore datasets are currently available for licensing, with plans underway for new data acquisition from 2026 onward to further support exploration and development activities.

The partnership brings a leading subsurface geoscience and geophysical solutions provider into the core of the event’s technical program at a time when Venezuela is seeking to reframe its upstream narrative around data quality, geological certainty and investable resource definition.

“This partnership underscores the growing role of subsurface science in shaping investment decisions and operational strategy across Venezuela’s upstream sector,” said James Chester, CEO of Energy Capital & Power. “It brings greater geological and geophysical rigor at a pivotal moment for the industry, helping bridge the gap between resource potential and subsurface certainty.”

This partnership underscores the growing role of subsurface science in shaping investment decisions and operational strategy across Venezuela’s upstream sector

 

Geoex MCG’s participation is expected to enhance technical discussions on Venezuela’s basin evolution, seismic imaging quality, prospectivity assessment and development of offshore fields. With their newly reprocessed data, exploration in the underexplored frontier areas of the offshore can now be evaluated, as well as improved imaging of existing fields, namely Perla, Rio Caribe/Mejillones/Patao/Dragon and Loran/Cocuina.

 

“Venezuela represents a highly significant subsurface province, where geological potential is well established but increasingly dependent on modern, high-quality data to unlock value,” said Robert Sorley, President, Geoex MCG LLC. “Supported by our exclusive multi-client agreement with the Ministry of Hydrocarbons, a growing portfolio of datasets reprocessed in partnership with DUG Technology, and plans for new acquisition, our focus is to enable international explorers to evaluate offshore opportunities with confidence. We are pleased to support Venezuela Energy Week 2026 by strengthening the technical dialogue and bringing greater subsurface clarity to investment and development discussions.”

 

Geoex MCG specializes in the design and delivery of geoscientific surveys, subsurface data acquisition, seismic reprocessing and project management services, supporting exploration and development activities across oil and gas, CCUS, natural hydrogen and other energy sectors. Through its asset-light business model, the company works with selected contractors to deliver tailored subsurface solutions aligned with clients’ technical and commercial objectives.

 

As Venezuela seeks to attract renewed international investment, Venezuela Energy Week is positioning itself as a leading technical and commercial platform where geology, data and capital converge, supporting dialogue on investment frameworks, upstream development and the long-term future of one of the world’s largest hydrocarbon resource bases.

Distributed by APO Group on behalf of Energy Capital & Power.

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