African Ratings Reach Highest Since 2020 on Growth, S&P Says
Taxi vans in heavy traffic on Nnamdi Azikwe Street by Idumota market in Lagos, Nigeria.
Photographer: Adetona Omokanye/BloombergEconomic reforms and improved growth have lifted African sovereign credit ratings to their highest level in over five years, and the outlook remains positive, according to S&P Global Ratings.
Financing costs for many African countries could ease on the back of stable economies, moderating inflation, firmer commodity prices and stronger local currencies, S&P said.