President Tinubu dubs for Africa’s own credit rating agency in FT Op-Ed

Nigeria President and Ecowas leader Bola Tinubu has called for the institution of an Africa-owned credit rating agency to counter what he described as the “persistent mispricing of the continent’s risk by global financial markets”.

The President made the call in an Op-Ed he published in the Financial Times on Monday, warning that African countries are paying excessively high borrowing costs due to flawed external assessments.

President Tinubu asserted that the so-called “Africa premium”,  the gap between perceived and actual economic risk,  is no longer sustainable.

Maintaining that the continent’s access to international capital is heavily influenced by the three dominant rating agencies, Fitch Ratings, Moody’s, and S&P Global Ratings, whose decisions shape investor behaviour but often fail to reflect local realities.

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