Afreximbank’s Risk Management Framework Earns ISO 31000:2018 Registration, Strengthening Its Position as Africa’s Leading Trade Finance Institution
The African Export-Import Bank (Afreximbank) has achieved registration under the ISO 31000:2018 Risk Management Standard, marking a major milestone in the Bank’s commitment to global best practices, sound governance, and operational excellence.
The registration, issued in November 2025, followed rigorous and independent assessments of Afreximbank’s Enterprise Risk Management (ERM) Framework conducted by external auditors and Certification Partner Global (CPG). Notably, the assessment recorded zero non-conformities, underscoring the robustness and maturity of the Bank’s risk governance systems.
This accomplishment places Afreximbank among a select group of leading global development banks and financial institutions that meet the internationally recognised ISO 31000:2018 standard. Developed by the International Organisation for Standardisation, ISO 31000 is regarded as the global benchmark for effective risk management, providing comprehensive principles and guidelines for risk governance, design, implementation, monitoring, and continuous improvement.
The certification confirms that Afreximbank’s risk management framework not only aligns with international best practices but is also tailored to the complex realities of operating across 54 African member states and the Caribbean Community (CARICOM).
Commenting on the achievement, Dr Elias Kagumya, Group Managing Director, Risk Management & Chief Risk Officer at Afreximbank, said the registration reflects years of deliberate institutional investment.
“Attaining ISO 31000:2018 registration goes beyond global recognition. It represents a sustained effort to build institutional capacity and embed a proactive risk culture across the Bank. As a treaty-based institution with a USD45 billion balance sheet supporting African trade across diverse markets, effective risk management is fundamental to delivering our mandate,” he said.
Dr Kagumya added that the certification provides assurance to member states, financial institutions, investors, and businesses that Afreximbank operates with the same level of risk maturity as leading global financial institutions. He noted that the Bank’s Risk Management Framework enables a comprehensive, bank-wide approach to identifying, assessing, monitoring, and managing risks across all operational areas—from strategy and finance to environmental and mandate-related considerations—ensuring stability and control in the execution of key programmes and financial instruments.
The ISO 31000:2018 registration aligns with Afreximbank’s Strategic Plan VI, particularly its priority of building a mature and resilient risk management framework. In 2025, the Bank undertook an extensive benchmarking exercise of its ERM framework against ISO 31000 standards, working closely with CPG as the independent accreditation body.
The certification delivers tangible benefits across Afreximbank’s operations. It enhances stakeholder confidence, strengthens enterprise-wide risk culture, and promotes proactive risk identification and mitigation within the Bank’s complex operating environment. The framework also supports informed decision-making by integrating risk considerations into strategy development, financial planning, and programme execution.
Additionally, the adoption of ISO 31000 guidelines improves operational efficiency through structured processes for monitoring, reviewing, reporting, and communicating risks across the Bank, while reinforcing a strong and effective control environment.
In its assessment, Certification Partner Global praised Afreximbank’s sophisticated approach to enterprise risk governance.
“Afreximbank has demonstrated exceptional capability in identifying, assessing, treating, and monitoring risks across its strategic programmes, platforms, and core instruments,” CPG stated. “Its well-structured Risk Universe, covering nine critical risk categories, reflects strong alignment with international best practices and positions the Bank as a leader in institutional risk management within the global financial services landscape.”
The certification comes at a critical time for African trade integration as Afreximbank continues to play a central role in implementing the African Continental Free Trade Area (AfCFTA). The Bank’s strong risk management framework underpins flagship initiatives such as the Pan-African Payment and Settlement System (PAPSS)—now connecting 19 countries and more than 160 commercial banks—and the Africa Trade Gateway (ATG), which is transforming cross-border trade across the continent.
With this achievement, Afreximbank reinforces its standing not only as Africa’s premier trade finance institution but also as a globally competitive development bank committed to the highest standards of governance, resilience, and operational excellence.
Source: Thepressradio.com
