New African Rating Agency Targets Marching
The newly launched Africa Credit Rating Agency is currently in discussions with fifteen sovereign borrowers. The Mauritius-based firm aims to publish its initial ratings by March to offer alternative perspectives.
Insights:
The Africa Credit Rating Agency is in talks with 15 sovereigns and aims to publish its initial ratings by March. The Mauritius-based challenger arrives as African leaders push back against dominant global rating firms over perceived lending risks. African economies pay an additional $75 billion annually in interest costs compared with borrowers elsewhere, according to interim CEO Sifiso Falala.
