South Africa on Friday secured its first credit rating upgrade in nearly 20 years after S&P Global raised the country’s foreign-currency long-term sovereign rating to “BB” from “BB-“, citing stronger growth prospects, an improving fiscal outlook and reduced contingent liabilities following better performance at state power utility Eskom. National treasury has worked to arrest rising…
Reflections on Trust, Sovereignty, and Africa’s Economic Destiny When the language of numbers claims to replace the voice of the people—when trust becomes a score and sovereignty a chart—it is time to pause, breathe, and question the gaze that evaluates. The recent downgrade of Senegal by Moody’s revives an essential question: how can one believe…
One of the commitments the South African presidency of the G20 made in its policy priorities document at the beginning of 2025 was to push for fairer, more transparent sovereign credit ratings. And to address the high cost of capital caused by an illusive perception of high risk in developing economies. South Africa proposed to…
Government has welcomed Fitch’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at “BB-” and maintain the stable outlook. According to Fitch, South Africa’s credit rating is constrained by several factors, including low real gross domestic product (GDP) growth, high poverty and inequality levels, a high and rising government debt-to-GDP ratio,…
Japan Credit Rating Agency, Ltd. (JCR) has affirmed African Export-Import Bank’s (Afreximbank) A- issuer credit rating with a stable outlook. The rating reflects JCR’s assessment of Afreximbank’s strong strategic positioning, robust risk management framework, consistent profitability, prudent liquidity policies and resilient capital base. JCR also noted the Bank’s important role in supporting trade finance and…
TLDR The African Credit Rating Agency (AfCRA), a new privately owned credit rating body, is set to begin operations by September 2025 The agency is backed by private sector stakeholders across Africa, not governments, to ensure independence and credibility The launch was originally planned for June 2025 during an African Peer Review Mechanism (APRM) summit,…
