Morocco Stands Alone as Africa’s Only Investment-Grade Economy, Expert Says
Morocco is the only "investment grade" country in Africa present on the eurobonds. This is at least what Professor Babacar Sene, director of the Center for Applied Economic Research (CREA), claims.
According to Professor Babacar Sene, all other countries are "speculative grade" below triple B, reports FinacialAfrik. He mentions South Africa, which has recently been downgraded, or Senegal and Côte d’Ivoire, which are under surveillance.
"The rating plays an important role in the pricing of securities on the primary and secondary markets," explains the university professor in Economics specialized in money and finance at the Cheikh Anta Diop University in Dakar. He cites as an example the African Development Bank (AfDB), rated triple A. This bank issued Covid bonds last spring at a rate of 0.75%.
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