Chorus against credit rating firms amid calls for African alternative

President William Ruto and his Tanzanian counterpart Samia Suluhu during The Mission 300 Africa Energy Summit, in Dar es Salaam, Tanzania. The Summit is an opportunity for governments, private sector leaders, development partners, and civil society to advance the ambitious goal of providing electricity access to 300 million people by 2030 – known as Mission 300 - a target announced by the African Development Bank Group and the World Bank Group in April 2024. [PCS.]

President William Ruto rarely minces on what he thinks of global credit rating agencies.

He has insisted that Kenya—and Africa at large—needs a credit agency that understands the continent’s financial context.