Africa Sovereign Credit Rating Outlook – 2024 Year-End Review

This report analyses the long-term foreign currency sovereign credit rating actions in Africa, with a predominant focus on the three dominant international credit rating agencies (CRAs): Moody’s Investors Service, Fitch Ratings and S&P Global Ratings (S&P) in the second half of 2024 (2024H2). It presents a comparative analysis of the consistency in the application of methodologies and rating services between Africa and other regions and makes recommendations to CRAs and African governments on how credit ratings can be improved.