Africa Sovereign Credit Rating Review 9th edition: 2024 mid-year outlook

Abstract

This report analyses the long-term foreign currency sovereign credit rating actions in Africa with a predominant focus on the three dominant international credit rating agencies (CRAs) – Moody’s Investors Service, Fitch Ratings and S&P Global (S&P) in the first half of 2024 (2024H1). It presents a comparative analysis of the consistency in application of methodologies and rating services between Africa and other regions and makes recommendations to CRAs and African governments on how credit ratings can be improved.