• Afreximbank backs 8 African startups through its innovation program

• Each startup eligible for funding up to $250,000

• Gebeya Inc. selected as Ethiopia’s representative

• Program targets digital innovation, trade facilitation, and industrialization

• Startups selected from multiple African countries after competitive screening

• Funding includes mentorship, market access, and business development support

• Initiative aligns with Afreximbank strategy to support intra-African trade and digital economy

Why it matters?
The funding expands access to capital for African startups and supports Ethiopia’s digital sector through Gebeya’s inclusion, with potential implications for skills, outsourcing, and tech-driven exports.

• AfrexInsure, Afreximbank’s specialty insurance subsidiary, appointed Lesley Ndlovu as Chief Executive Officer in 2026.  
• Ndlovu succeeds Jonas Mushosho and will lead expansion of specialty insurance for African trade and investment risks.  
• AfrexInsure is a wholly owned Afreximbank subsidiary offering insurance management services for trade-related investments across Africa.  
• The company is incorporated in Mauritius and regulated by the Financial Services Commission with insurance manager and global business licenses.  
• AfrexInsure provides specialty cover including project cargo, construction equipment, energy projects, and alternative risk solutions.  
• The firm says it aims to retain more specialty insurance premiums within Africa and support bankable trade transactions.  

why it matters?

The appointment comes as AfrexInsure expands African-based risk coverage for trade and trade-related investments. That matters for exporters, project sponsors, lenders, and insurers seeking more Africa-focused underwriting capacity. 

• AfrexInsure, Afreximbank’s specialty insurance subsidiary, appointed Lesley Ndlovu as Chief Executive Officer in 2026.  
• Ndlovu succeeds Jonas Mushosho and will lead expansion of specialty insurance for African trade and investment risks.  
• AfrexInsure is a wholly owned Afreximbank subsidiary offering insurance management services for trade-related investments across Africa.  
• The company is incorporated in Mauritius and regulated by the Financial Services Commission with insurance manager and global business licenses.  
• AfrexInsure provides specialty cover including project cargo, construction equipment, energy projects, and alternative risk solutions.  
• The firm says it aims to retain more specialty insurance premiums within Africa and support bankable trade transactions.  

why it matters?

The appointment comes as AfrexInsure expands African-based risk coverage for trade and trade-related investments. That matters for exporters, project sponsors, lenders, and insurers seeking more Africa-focused underwriting capacity. 

• Credit rating lowered: Fitch cut Afreximbank’s long-term rating to BB+ from BBB- (investment grade).

• Ratings withdrawn: Fitch has withdrawn future ratings and analytical coverage of Afreximbank.

• Dispute driver: Downgrade and withdrawal followed disagreements over Fitch’s assessment approach.

• Preferred creditor status questioned: Fitch cited loss of informal preferred creditor protection in Ghana deal.

• Bank response: Afreximbank terminated its credit rating relationship with Fitch. 

Why it matters: