As African leaders revive talks on the establishment of a Pan-African credit rating agency, an analyst has questioned the viability of such a project. This week, Senegal’s president and current chairperson of the African Union, Macky Sall, called for the establishment of the rating agency due to what he explained as the problematic nature of the system of assessment by international organisations. The idea has been part of the continent’s discourse for decades now as leaders complained that it is expensive for countries to borrow from global debt markets. Institute for Security Studies Southern Africa’s project leader, Liesl Louw-Vaudran, said that the old notion of forming a Pan-African credit rating agency could prove a challenge for the continent’s countries. She explained that the need for such institutions to be independent or perceived to be so was among the hurdles it could face.
SOURCE: EWN
More Stories
Re-entry of Higher Capacity Aircraft on African Routes Shows Recovery of Hard Hit Travel Sector
For the First Time, Jumia May have to Worry about its Liquidity Position
The Pros and Cons of South Africa’s Tourism Marketing Strategy
Can Southern African States Move Further Up the Lithium Value Chain?
Dutch Energy Producer Eyes Africa Expansion
Libya’s Oil Ministry has Rejected the $8bn Offshore Gas Projects Deal
Zimbabwe’s Leader is Seeking Investment for a New National Capital
South African Poultry Farmers in Dire Straits
Travel Marketplace for Immersive Experiences Matching Tourists with Verified African Curators
Africa’s Only All-Female Solar Panel Assembly Plant Launched in Cape Town
Pope Francis Condemns “Economic Colonialism” as He Arrives in the DRC
Encouraging Signs that Corruption is being Successfully Tackled in Parts of Africa