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Credit rating agency
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Search complete. 82 mentions across 22 episodes found for "Credit rating agency".
Oct 17, 2026
Julian MorrowHOST
And for some extra today, I'll be back later on as Radio National's Top 100 Australian Books countdown continues.
Julian MorrowHOST
First up today, the new credit rating agency for the continent of Africa.
Julian MorrowHOST
Earlier this month, the Africa Credit Rating Agency, or AFCRA, was launched by the African Union.
Julian MorrowHOST
AFCRA has been described as an independent, private sector-driven institution to bring additional data, knowledge and perspectives into the assessment of African economies.
Julian MorrowHOST
Joining us to give his rating of this new African credit ratings agency is Dr. Raymond Gilpin, Chief Economist and Head of Strategy Analysis and the Research Team at the Regional Bureau for Africa at the United Nations Development Program.
Raymond GilpinGUEST
None of the big three have offices in more than two African countries.
Raymond GilpinGUEST
So that subjectivity side of things could also be addressed by this new agency, which we hope will pay a lot more attention to the granularity of African economies.
Julian MorrowHOST
On Sunday Extra, we're speaking with Dr. Raymond Gilpin, Chief Economist at the Regional Bureau for Africa at the United Nations Development Program about the new African Credit Rating Agency.
speaker_0HOST
[intro jingle] First up today, the new credit rating agency for the continent of Africa.
speaker_0HOST
Earlier this month, the Africa Credit Rating Agency, or AFRCA, was launched by the African Union.
speaker_0HOST
AFRCA's been described as an independent private sector-driven institution to bring additional data, knowledge, and perspectives into the assessment of African economies.
speaker_0HOST
Joining us to give his rating of this new African credit ratings agency is Dr. Raymond Gilpin, Chief Economist and Head of Strategy Analysis and the research team at the Regional Bureau for Africa at the United Nations Development Program.
Raymond GilpinGUEST
We try to isolate, um, the subjectivity in the ratings, and we did a counterfactual.
Raymond GilpinGUEST
What if the ratings only captured macroeconomic fundamentals? And the delta we came up with was about $74 billion of losses to African countries because of ratings that had a high level of subjectivity.
speaker_0HOST
subjectivity.On Sunday Extra, we're speaking with Dr. Raymond Gilpin, Chief Economist at the Regional Bureau for Africa at the United Nations Development Program, about the new African credit rating agency.
speaker_0HOST
Raymond, this is certainly not the first time that a part of the world has tried to establish its own regional ratings agency.
speaker_2HOST
There is a paradigm shift quietly taking shape that could change how all of that debt is viewed globally.
speaker_2HOST
Just recently, the African Union officially launched the Africa Credit Rating Agency, or AFRCA, based in Mauritius.
speaker_1HOST
A credit rating agency explicitly for the continent.
speaker_2HOST
Yes.
speaker_2HOST
For decades, African nations have paid billions of dollars in what are known as risk premiums on their debt, and that sovereign risk was dictated almost entirely by three major Western rating agencies based in New York.
Jimmy MoyahaHOST
Thanks so much for taking the time we have ratings agencies around the world they've been in existence for quite some time but as an african continent we have been discussing this particular initiative for quite some time what will the african credit ratings agency do differently to other ratings agencies
Sifiso FalalaGUEST
yeah thank you so much for uh giving us time on your radio station and on your show The Africa Credit Rating Agency will do research to understand why African states are associated primarily with being credit unworthy and why it is so expensive for African states to borrow to the extent that money that should go into development is primarily used to fund the repayment of interest, not the principal debt itself.
Sifiso FalalaGUEST
And that is seen as holding Africa's development back.
Sifiso FalalaGUEST
The Africa Credit Rating Agency has been given a huge role to play in terms of understanding risk in Africa and understanding causality between the rating scores as well as the possibility that a sovereign state would repay or not repay its debt.
Sifiso FalalaGUEST
So the African Union has commissioned us to do a deeper dive and a deeper understanding of risk.
Jimmy MoyahaHOST
Dr Falala, speaking of that risk, The important point that you mentioned around the cost of capital, a lot of that sits within what we've come to know as a risk premium that gets priced into monies that are borrowed.
Erant ShomaHOST
Today, we focus on a major financial development.
Erant ShomaHOST
The African Union has launched Africa's first homegrown credit rating agency offering an African alternative to the three major global rating agencies and seeking to access African economies with greater context.
Erant ShomaHOST
When a government wants to build a railway, expand electricity, improve hospitals or invest in schools, it needs money.
Erant ShomaHOST
When a company wants to build a factory, bring a product to a new market to expand its workforce, it also needs money and that money has a price.
Erant ShomaHOST
But the answer cannot simply be to give African borrowers better ratings because they are just Africans.
Erant ShomaHOST
A rating only has value if it is independent, evidence-based, and trusted by the people who use it.
Erant ShomaHOST
And that is the challenge at the center of the new African Credit Rating Agency, launched by the African Union in Mauritius on Wednesday, October 7th.
Erant ShomaHOST
It is the continent's first homegrown credit rating agency created to offer an additional Africa-focused assessment alongside the three major global agencies.
JamuhuriHOST
The World Bank report said that national debt loads in the region have stabilized with the debt-to-GDP ratio at about 57%, but about half of the countries are either in default or struggling to service their debts, pointing to persistently high debt servicing costs.
JamuhuriHOST
Staying on the African continent, on Wednesday, the African Union announced it will launch the continent's first credit rating agency, seeking to provide an alternative to the big three global rating agencies as debt burdens weigh on many African economies.
JamuhuriHOST
The launch of the Africa Credit Rating Agency will take place in Port Louis, the capital of Mauritius, where the agency will be based.
JamuhuriHOST
The project has been nearly a decade in the making, with African leaders endorsing its creation in 2018.
JamuhuriHOST
The African Union said in a statement that Africa Credit Rating Agency will complement existing global rating agencies by offering a perspective rooted in African data, expertise and realities.
JamuhuriHOST
We now change scene to the Kenyan financial markets.
JamuhuriHOST
And we start by looking at the central bank's monetary policy decision, where during its policy meeting that was held on the 7th of October, the Monetary Policy Committee maintained the central bank rate at 8.75%.
Joseph CoxHOST
Qatar has positioned 12 LNG carriers for potential recovery in exports through the Strait of Hormuz.
Joseph CoxHOST
In Africa, New Continental Credit Rating Agency has launched in Mauritius.
Joseph CoxHOST
Finally, the World Economic Forum reports improvements in tourism development across 101 of 110 economies, although price competitiveness continues to deteriorate.
Joseph CoxHOST
Turning to the markets, energy prices were mixed.
Géraud NeemaPANELIST
Okay.
Géraud NeemaPANELIST
So what's happened early this week, I mean, mid this week, it was the launch of AFRAM, Africa Credit Rating Agency.
Géraud NeemaPANELIST
It's a response by the African Union and African countries against what they believe and what they see to be a misrepresentation of, of African risk when it comes to credit and when it comes to credit rating by the Big Three, the Big Three being Moody's, S&P and, uh, and Fitch.
Géraud NeemaPANELIST
And, um, they say that there is a sense where those agency, when they, when it comes to rating Africa, when it comes to assess the risk, they, to make the risk assessment, they always have that high risk to, high risk, uh, uh, uh, at-risk, uh, assessment.
Eric OlanderHOST
I mean, which is just, it's absurd.
Eric OlanderHOST
But this has been this very reductive view of Africa that many of the agencies have, that peop- that critics in Africa have complained about.
Eric OlanderHOST
And, and, and that, again, is not unique to this credit rating agency discussion.
Eric OlanderHOST
What's unique here is that people are trying to do something about it.
Bode Osho SamyonHOST
during crisis.
Bode Osho SamyonHOST
On Wednesday, the African Union launched the Africa Credit Rating Agency , the continent's first in Port Louis, Mauritius.
Bode Osho SamyonHOST
Endorsed in 2018, it offers an alternative to the Big Three as debt pressures rise.
Bode Osho SamyonHOST
Critics warn it must remain objective and independent even as african banks dennis denier said better information and context would help investors assess african risks more accurately the nasdaq composite fell yesterday after open ai's analyzed revenue missed earlier guidance by about 20 billion dollars OpenAI told investors revenue was nearing $50 billion at the end of September, below the previously reported $70 billion annual revenue.
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