This decision underscores the institution's leading role in a context where the continent needs to bridge an annual financing gap of $400 billion to modernize its production infrastructure.

The maintenance of the maximum sovereign rating comes at a time of expansion of the bank's loan portfolio. The institution's financial commitments recorded a 14% increase during the 2025 fiscal year. However, this operational acceleration has resulted in a marginal erosion of the institution's safety margins, with the ratio of usable equity to risk-weighted assets declining by two percentage points over the past year to 57% in 2025, compared to 59% in 2024. The rating agency considers that the risk of sectoral or geographical concentration remains under control, with the bank enjoying preferred creditor status that guarantees regular debt service by member states, even in contexts of intense budgetary tensions, as illustrated by the regularity of payments by Senegal.

To optimize its capital returns and reduce borrowing costs in Africa, the preservation of the AAA rating is accompanied by structural reforms. The bank's management is relying on the deployment of the new African Financial Coordination Framework (NAFAD), an initiative led by Sidi Ould Tah aimed at mutualizing insurance capacities and capturing local savings. Risk-sharing mechanisms have also been allocated concrete financial resources through a $125 million capital investment in the African Trade Insurance Agency (ATIDI). The operation aims to consolidate coverage against political and commercial risk, removing psychological and financial barriers that hinder the injection of long-term private capital into African markets.


Bernardo

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