Africa needs deeper capital markets, stronger financial institutions and better mechanisms for mobilizing its own resources if it is to finance development at the scale required, experts said at the 2nd Annual Conference on Credit Ratings, which concluded in Mauritius on 6 October.
Over two days, policymakers, credit rating experts, investors, regulators and development partners explored how Africa can strengthen its credit ratings ecosystem while mobilizing more domestic capital for long-term investment.
Discussions ranged from the way risk is assessed and priced in African markets to the development of local capital markets, financial literacy, artificial intelligence and fintech.
Another issue was how Africa’s reserves, pension funds, sovereign wealth funds and insurance assets could be put to greater use in financing the continent’s development.
The conference came at a time when African countries continue to face high financing costs and growing investment needs.
