Africa needs credit ratings that reflect its economic realities and institutional strengths to improve access to finance and channel more investment into development, Denys Denya, Senior Executive Vice President of the African Export-Import Bank (Afreximbank), said.
Speaking at the Africa Credit Rating Agency’s (AfCRA) Golden Hour leadership panel on institutional mandates for credit ratings, Denya called for assessments that recognise the demonstrated capabilities of African institutions and provide investors with a more accurate understanding of the continent’s risk profile.
Credible, context-sensitive ratings can play a critical role in shaping investment decisions, strengthening confidence in African markets and helping businesses and development projects secure the financing they need to grow.
Moderated by South African Broadcasting Corporation (SABC) journalist Sophie Mokoena, the panel brought together Hanan Morsy of the United Nations Economic Commission for Africa (UNECA), Albert M. Muchanga, former African Union commissioner for trade and industry, and Didier Acouetey of the African Development Bank.
The discussion examined how AfCRA could strengthen investor confidence, deepen financial integration and facilitate cross-border investment under the African Continental Free Trade Area (AfCFTA).
A more informed assessment of African economies and their risk profiles could help mobilise capital for businesses, infrastructure and other projects driving economic growth across the continent.
The debate comes as African countries seek to expand access to long-term financing, strengthen regional capital markets and mobilise investment to support industrialisation and intra-African trade.
