By Ayomide Otitoju
Afreximbank has been registered with the ISO 31000:2018 Risk Management Standard by Certification Partner Global (CPG), marking a major milestone in the Bank’s institutional development and reinforcing its commitment to global best practices in operational excellence.
Issued in November 2025, the registration followed rigorous independent assessments of Afreximbank’s enterprise risk management framework by external auditors, with zero non-conformities recorded. The achievement places the pan-African multilateral financial institution among a select group of leading global development banks and financial institutions that meet the internationally recognised standard.
ISO 31000:2018, developed by the International Organisation for Standardisation, is widely regarded as the global benchmark for risk management. It provides comprehensive principles and guidelines for the design, governance, implementation, evaluation and integration of risk management across organisations. The registration confirms that Afreximbank’s framework aligns with international best practices while effectively addressing the complexities of operating across 54 African member states and the Caribbean Community (CARICOM).
Commenting on the development, Group Managing Director, Risk Management and Chief Risk Officer at Afreximbank, Dr Elias Kagumya, said the registration reflects years of sustained investment in institutional capacity and a strong risk culture.
“Attaining ISO 31000:2018 registration is not just about global recognition; it represents years of deliberate investment in building institutional capacity and embedding a proactive risk culture throughout our organisation,” Kagumya said. “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. This achievement assures our stakeholders that we operate with the same level of risk maturity as the world’s leading financial institutions.”
He added that the Bank’s Risk Management Framework provides a comprehensive, bank-wide approach to identifying, monitoring and managing risks across all areas of operation, ensuring that strategic programmes, platforms and financial tools are delivered in a stable and well-controlled manner.
The accreditation aligns with Afreximbank’s Strategic Plan VI priority of building a mature risk management framework and underscores its commitment to continuous improvement in governance, transparency and operational standards. In 2025, the Bank launched a comprehensive benchmarking exercise of its Enterprise Risk Management framework against ISO 31000:2018, working with CPG as the independent accreditation body.
According to Afreximbank, the registration delivers tangible benefits across its operations, including strengthened stakeholder confidence, enhanced risk culture, improved decision-making and more effective integration of risk considerations into strategy, financial planning and programme management. The framework also promotes efficiency through formal guidelines for monitoring, reviewing and communicating risks across the Bank.
In a statement, Certification Partner Global described Afreximbank’s framework as comprehensive and sophisticated, noting the Bank’s strong capability in identifying, assessing, treating and monitoring risks across its strategic programmes and core instruments.
“Afreximbank has demonstrated exceptional capability through a well-structured Risk Universe addressing nine critical risk categories, from strategy and business risk to mandate risk,” CPG said, adding that the framework’s alignment with international best practices positions the Bank as a leader in institutional risk management within the global financial services sector.
The accreditation comes at a critical time for African trade integration, as Afreximbank continues to play a central role in operationalising the African Continental Free Trade Area (AfCFTA). The Bank’s robust risk management framework underpins key 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, which is reshaping cross-border trade across the continent.
With the ISO 31000:2018 registration, Afreximbank has further strengthened its standing as Africa’s leading trade finance institution and a globally competitive development bankbank committed to the highest standards of governance and operational resilience.
