The African Development Bank (AfDB) confirms its financial solidity with the confirmation of the AAA rating from the Fitch agency. The confirmation of the AAA rating by Fitch Ratings testifies to the very strong support enjoyed by the institution.

According to the international rating agency, the bank's risk management policies are deemed "conservative and excellent" and "concentration risk is low, with the Bank's five largest exposures representing 32% of its total portfolio at the end of 2020”. Thus, Fitch Ratings once again assigns the triple A rating to the AfDB with a stable outlook. A note that confirms the financial solidity of the pan-African bank, reinforced by the unwavering support of shareholders, but also the issue of its five-year bond of 2.75 billion dollars. According to President Akinwumi Adesina, the AfDB is pleased that Fitch has affirmed its AAA rating, with a stable outlook, despite the enormous challenges posed by the Covid-19 pandemic. "The Bank will continue to strengthen its fiscal policy and relevance in support of African countries facing the global and regional repercussions of the pandemic," he said.

The Group's Acting Senior Vice-President, Finance and Managing Director of the AfDB, Bajabulile Swazi Tshabalala, said that "the confirmation of the Bank's AAA rating by Fitch testifies to the very strong support enjoyed by our institution, as well as its strong ability to raise capital and manage risk”. Recall that on July 15, the African Development Bank successfully issued a five-year bond of $2.75 billion. It had been hailed by Global Capital in 2020 for the successful issuance of its US$3 billion “Fight Covid-19” social bond.