Ratings
African countries under the African Union (AU) plan to create the Africa Credit Rating Agency (AfCRA), facilitated by the African Peer Review Mechanism (APRM). A Credit Rating Problem The continent faces an 'African Premium' issue in the international credit market, which is dominated by the big three credit
Ratings
The African Development Bank, Prosper Africa (a U.S. presidential initiative), and the United States Department of the Treasury have agreed to create an African online credit rating data platform with a $700,000 grant. Why does this matter : Several African countries have recently been accessing international credit markets to
Ratings
Moody's has expressed a positive outlook on sub-Saharan Africa's growth prospects, emphasising the significance of energy and infrastructure investments in supporting the region's economic development. Why does this matter: South Africa is prioritising infrastructure development in the energy, water, and transport sectors to enhance
Ratings
The African Union (AU) a continental union of 55 member states is planning to launch its own credit rating agency according Bloomberg. Why is this important: This initiative is motivated by a growing concern among African governments about the objectivity of major credit agencies' assessment of African countries, which
Ratings
Moody's upgrades Ivory Coast to Ba2, two levels under investment grade. Deemed one of Africa's promising economies, Ivory Coast has embarked on an economic program over 2023-2026 to ensure macroeconomic stability and boost private investment to grow its economy. The country has also achieved a manageable
Ratings
South Africa's Eskom the country's utility group has seen an improvement in its creditworthiness with the recent upgrade by S&P Global Rating “B” from “CCC+” over its secured and unsecured debt. The rating firm also upgraded the national scale rating to ‘zaBBB/zaA-2’ from