UN agency, firm to host credit rating forum in Nairobi
Business
By
James Wanzala
| May 23, 2024
The United Nations Development Programme Africa (UNDP Africa) will next week host a high-level panel discussion on credit rating in partnership with Africatalyst.
Themed developing credit rating solutions for Africa's financial needs, the event will feature in-person sessions and virtual participation on the sidelines of the 59th annual meeting of the African Development Bank (AfDB) in Nairobi.
Panellists will explore the challenges associated with financing development in Africa, shedding light on the regulatory framework governing credit rating agencies while exploring alternative innovative solutions to empower governments to access critical financing.
Participants will include experts from government, academia, research, finance, private sector, civil society and development partners.
"Credit ratings have become an important part of Africa's development financing landscape. However, we're finding that the costs of those Eurobonds are usually really high and are linked to how African countries are rated," said Chief Economist and Head of Strategy, Analysis and Research at UNDP Africa Raymond Gilpin.
READ MORE
MPs pass Bill banning hospital detention over unpaid bills
Kenya begins 42-day countdown to Ebola-free status
KRA moves to enforce 15 per cent minimum tax on multinational companies
When voters speak, politicians must listen: Lessons for Kenya in US midterm elections
State approves Sh96.95 M compensation for 157 protest victims
Trials intersex children undergo in quest for identity, acceptance
Mr President, you can't concede today and rewrite history tomorrow
"Our high-level panel on May 28, 2024, will interrogate some of the issues relating to credit ratings their costs and practical things that African countries must do to lower the costs of borrowing."
The event will seek to evaluate the impact of credit ratings on investment decisions and access to international capital markets by African countries, examine the regulatory environment governing credit rating agencies and propose measures to mitigate negative effects.
Why the super-rich are abadoning the property market
Prices of apartments in Kiambu, Ngong, and Ruaka cooled off in the third quarter of the year, resulting in a drop in the amount of rent charged during the period.Co-op Bank investors to receive Sh8.8b payout after profit surge
Co-op Bank will pay out Sh8.8 billion in interim dividend to its shareholders after net earnings for the nine months to September 2026 rose by 27.2 per cent to hit Sh27.4 billion.Mombasa industrial park set for Sh90 billion power plant, AI project
Mombasa is set to host a Sh90 billion energy and AI infrastructure project, following a partnership between Amaco Energy S.A and Arise Integrated Industrial Platforms (ARISE IIP) Kenya.KEBS seeks tougher rules on imported and locally made goods as MPs review drafts
KEBS is pushing for stronger regulation of imported and locally manufactured products, as Parliament scrutinises draft rules meant to close gaps in the standards and quality control system.KeNHA reports over 99 per cent axle load compliance
Axle load compliance across key transport corridors has increased to over 99 per cent driven by increasing engagement between KeNHA and truckers and cargo owners.MOST READ
- Co-op Bank investors to receive Sh8.8b payout after profit surge
BUSINESS
By Brian Ngugi
- Mombasa industrial park set for Sh90 billion power plant, AI project
REAL ESTATE
By Patrick Beja
- KEBS seeks tougher rules on imported and locally made goods as MPs review drafts
SHIPPING & LOGISTICS
By Patrick Beja