Africa’s Creditworthiness, Investment Prospects Under Spotlight At DataPro Webinar

The ability of African economies to strengthen their creditworthiness and attract more investment will come under scrutiny at an international webinar on sovereign credit ratings scheduled for October 8.

The virtual event, organised by DataPro Limited, is themed “Sovereign Credit Rating: Africa’s Roadmap to Investment-Grade Status” and will examine the economic, fiscal and institutional conditions required for African countries, particularly Nigeria, to attain and sustain investment-grade sovereign credit status.

The Minister of State for Budget and Economic Planning, Dr. Doris Uzoka-Anite, is expected to deliver the keynote address at the webinar.

Uzoka-Anite, an economist and public policy professional who previously served as Minister of Industry, Trade and Investment, is expected to bring perspectives on economic planning, fiscal management, sustainable development, public-sector reforms, investment mobilisation and measures for strengthening economic resilience and investor confidence.

DataPro said her experience in public policy, economic management, investment, trade and fiscal affairs had provided her with a broad perspective on the structural and policy factors influencing economic performance, fiscal sustainability and investor confidence.

The company added that, in her current role, Uzoka-Anite is closely associated with the implementation of budget and economic planning initiatives, including programmes aimed at improving economic outcomes and addressing implementation bottlenecks across subnational governments.

The webinar will also feature goodwill messages from the Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, and the Statistician-General and Chief Executive Officer of the National Bureau of Statistics (NBS), Prince Adeyemi Adeniran.

The event is coming against the backdrop of moves by African leaders to launch the African Credit Rating Agency (AfCRA) in Mauritius on October 7.

The proposed agency is expected to challenge what the African Union has described as skewed risk perceptions that have resulted in African countries paying higher risk premiums when accessing global capital.

According to DataPro, the webinar will examine the factors that determine sovereign creditworthiness, including fiscal discipline, revenue mobilisation, debt sustainability, macroeconomic stability, economic diversification, policy credibility and institutional effectiveness.

Participants are also expected to examine how sovereign credit ratings are determined, the factors behind upgrades and downgrades, as well as the relationship between economic policies, underlying economic fundamentals, investor confidence and access to capital.

DataPro said the discussions would further address common misconceptions about sovereign ratings and their broader implications for confidence in financial markets.

The company said the webinar would also consider the role an improved sovereign credit profile could play in supporting Nigeria’s ambition to build a $1 trillion economy by 2030.

It noted that stronger institutions, effective fiscal management, debt sustainability, policy consistency and economic growth could contribute to a stable investment environment capable of attracting capital for infrastructure, productive capacity, private-sector expansion and economic diversification.

Speaking on the significance of the annual event, DataPro’s Founder and managing director, Abimbola Adeseyoju, said it provides a platform for deepening understanding of the role and value of credit rating institutions, particularly in challenging economic conditions.

Adeseyoju said credit ratings remained an important component of the financial system because they provide independent assessments that help investors, lenders and other market participants make informed investment and financing decisions.

Other speakers expected at the webinar include Torsten Schmidt, Head of Macroeconomics and Public Finance Research, RWI-Essen; Daniel Cash, Founder of Credit Rating Research Initiative; Oluwakemi Babalogbon, Executive Director, Risk Management, Ministry of Finance Incorporated (MOFI), Nigeria; Kai Gehring, Professor of Political Economy at the University of Bern; and Misheck Mutize, Lead Expert for Credit Rating Agencies at the African Peer Review Mechanism (APRM).