Do Credit Rating Agencies Accurately Assess Africa’s Risk?

Akinwumi Adesina, president of the African Development Bank, has called for Africa to have its own credit-rating agency to assess risk on the continent, arguing that major international ratings companies have an inaccurate perception of African risk. “Africa is not any riskier than any other part of the world…Perception is not reality. Over the past five years, we have brought investors to Africa and mobilised well over $180bn in investment interest… It tells you the opportunities are limitless,” Adesina told an audience at Chatham House in London.AFRICAN BUSINESS