Monday, October 2, 2023
Public Sector Magazine
Advertisement
  • HOME
  • NEWS
    Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

    Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

    Kenya: Lands ministry implements cashless revenue collection to combat corruption

    Kenya: Lands ministry implements cashless revenue collection to combat corruption

    Ghana Export Promotion Authority keen on developing coconut industry

    Ghana Export Promotion Authority keen on developing coconut industry

    Former First Lady of Ghana, Theresa Kufuor dies at 87

    Former First Lady of Ghana, Theresa Kufuor dies at 87

    Nigeria: Labour unions to suspend protests after meeting Tinubu — Presidency

    Nigeria: President Tinubu celebrates House Speaker Rt. Honourable Tajudeen Abbas, at 58

    Local government must improve lives – President Ramaphosa

    SA: President Ramaphosa to host SA’s Special Olympics team

    Somalia launches US$11.4 million project to strengthen emergency care services at regional hospitals

    Somalia launches US$11.4 million project to strengthen emergency care services at regional hospitals

    Trending Tags

    • FEATURES
      Ghana Celebrates Osagyefo Dr. Kwame Nkrumah: Remembering the Architect of Independence

      Ghana Celebrates Osagyefo Dr. Kwame Nkrumah: Remembering the Architect of Independence

      Chronicles of Africa’s coups: From ‘Gallic Strings’ to BRICS hopes

      Chronicles of Africa’s coups: From ‘Gallic Strings’ to BRICS hopes

      Children displaced across Sub-Saharan Africa by climate shocks doubled to a record high in 2022

      Children displaced across Sub-Saharan Africa by climate shocks doubled to a record high in 2022

      President Ruto lifts logging ban

      Kenya’s Africa exports cross Sh200bn mark

      Kenya climbs ladder in the global avocado production rankings 

      Kenya climbs ladder in the global avocado production rankings 

      Ing. Oscar Amonoo-Neizer: A Trailblazer in Ghana’s Sustainable Energy Development

      Ing. Oscar Amonoo-Neizer: A Trailblazer in Ghana’s Sustainable Energy Development

      World Environment Day 2023: History, theme and significance

      World Environment Day 2023: History, theme and significance

      Femi Gbajabiamila – Nigeria’s New Chief of Staff

      Femi Gbajabiamila – Nigeria’s New Chief of Staff

      Trending Tags

      • DIGITAL ECONOMY
        Zambia, Israeli discuss bilateral relations

        Zambia, Israeli discuss bilateral relations

        Ghana launches HIV Self-Testing kit

        Ghana launches HIV Self-Testing kit

        Kenya: President Ruto Signs County Allocation of Revenue and Equalisation Bills

        Chairman of Afreximbank calls for intra-African trade.

        Chairman of Afreximbank calls for intra-African trade

        Afreximbank launches Insurance subsidiary to support intra-African trade

        Afreximbank launches Insurance subsidiary to support intra-African trade

        Eritrea: President Isaias Afwerki returns home

        Eritrea: President Isaias Afwerki returns home

        President Ramaphosa meets large exporters on the state of South Africa’s logistics system

        ECOWAS shares dialogue, negotiation and mediation capacity building experiences at The Hague

        ECOWAS shares dialogue, negotiation and mediation capacity building experiences at The Hague

        Kenya: Ministry of Health welcomes new Kenya Medical Supplies Authority Chairperson, Mr. Daniel Rono

        Kenya: Ministry of Health welcomes new Kenya Medical Supplies Authority Chairperson, Mr. Daniel Rono

        Trending Tags

        • INTERVIEW
          Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

          Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

          Ghana’s registra department: driving digitization for effecient services

          Ghana’s registrar department: driving digitization for efficient services

          Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

          Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

          Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

          Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

          “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

          “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

          I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

          I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

          Why Nigeria Needs Aircraft Leasing Companies- Captain Abdulsalami Mohammed

          Why Nigeria Needs Aircraft Leasing Companies- Captain Abdulsalami Mohammed

          Interview with Jennifer Blanke, Vice President Agriculture, Human and Social Development at the African Development Bank Group, Ahead of the 2019 Gender Summit

          Interview with Jennifer Blanke, Vice President Agriculture, Human and Social Development at the African Development Bank Group, Ahead of the 2019 Gender Summit

          Now is the Time to Partake in Nigeria’s Next Level Roadmap – Damilola Ogunbiyi

          Now is the Time to Partake in Nigeria’s Next Level Roadmap – Damilola Ogunbiyi

          Trending Tags

          • EVENTS
            • PUBLIC SECTOR AWARDS
            • GHANA PUBLIC SECTOR PR AWARDS
          • LISTS
            • All
            • PSCEOW
            • PSMOW
            Edwin Alfred Provencal emerges Public Sector Global ‘CEO of the Week’

            Kenya’s Moses K. Kuria emerges as Public Sector Global ‘Minister of the Week’

            Edwin Alfred Provencal emerges Public Sector Global ‘CEO of the Week’

            Edwin Alfred Provencal emerges Public Sector Global ‘CEO of the Week’

            South Africa’s Thulas Nxesi emerges as Public Sector Global ‘Minister of the Week’

            South Africa’s Thulas Nxesi emerges as Public Sector Global ‘Minister of the Week’

            Pascal Bizimana Ruganintwali emerges Public Sector Global ‘CEO of the Week’

            Pascal Bizimana Ruganintwali emerges Public Sector Global ‘CEO of the Week’

            Hon. Matthew Opoku Prempeh emerges Public Sector Global ‘Minister of the week’

            Hon. Matthew Opoku Prempeh emerges Public Sector Global ‘Minister of the week’

            Hon. Aisha Jumwa Katana emerges Public Sector Global ‘Minister of the week’

            Hon. Aisha Jumwa Katana emerges Public Sector Global ‘Minister of the week’

            Her Excellency Hon Reem Ebrahim Al Hashimy, Minister of State for international Cooperation, United Arab Emirates Emerges PSG Minister of the Week

            Her Excellency Hon Reem Ebrahim Al Hashimy, Minister of State for international Cooperation, United Arab Emirates Emerges PSG Minister of the Week

            Hon Aisha Jumwa, Minister of Public Service, Gender & Affirmative, Kenya has Emerged APS Minister of the Week

            Hon Aisha Jumwa, Minister of Public Service, Gender & Affirmative, Kenya has Emerged APS Minister of the Week

            Hon Aisha Jumwa, Minister of Public Service, Gender & Affirmative, Kenya has Emerged APS Minister of the Week

            Hon Aisha Jumwa, Minister of Public Service, Gender & Affirmative, Kenya has Emerged APS Minister of the Week

            Trending Tags

            • DOWNLOAD
              • MAGAZINE
              • NEWSLETTER
                • JUNE
                • JULY
                • AUGUST
                • MARCH 2023
            No Result
            View All Result
            • HOME
            • NEWS
              Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

              Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

              Kenya: Lands ministry implements cashless revenue collection to combat corruption

              Kenya: Lands ministry implements cashless revenue collection to combat corruption

              Ghana Export Promotion Authority keen on developing coconut industry

              Ghana Export Promotion Authority keen on developing coconut industry

              Former First Lady of Ghana, Theresa Kufuor dies at 87

              Former First Lady of Ghana, Theresa Kufuor dies at 87

              Nigeria: Labour unions to suspend protests after meeting Tinubu — Presidency

              Nigeria: President Tinubu celebrates House Speaker Rt. Honourable Tajudeen Abbas, at 58

              Local government must improve lives – President Ramaphosa

              SA: President Ramaphosa to host SA’s Special Olympics team

              Somalia launches US$11.4 million project to strengthen emergency care services at regional hospitals

              Somalia launches US$11.4 million project to strengthen emergency care services at regional hospitals

              Trending Tags

              • FEATURES
                Ghana Celebrates Osagyefo Dr. Kwame Nkrumah: Remembering the Architect of Independence

                Ghana Celebrates Osagyefo Dr. Kwame Nkrumah: Remembering the Architect of Independence

                Chronicles of Africa’s coups: From ‘Gallic Strings’ to BRICS hopes

                Chronicles of Africa’s coups: From ‘Gallic Strings’ to BRICS hopes

                Children displaced across Sub-Saharan Africa by climate shocks doubled to a record high in 2022

                Children displaced across Sub-Saharan Africa by climate shocks doubled to a record high in 2022

                President Ruto lifts logging ban

                Kenya’s Africa exports cross Sh200bn mark

                Kenya climbs ladder in the global avocado production rankings 

                Kenya climbs ladder in the global avocado production rankings 

                Ing. Oscar Amonoo-Neizer: A Trailblazer in Ghana’s Sustainable Energy Development

                Ing. Oscar Amonoo-Neizer: A Trailblazer in Ghana’s Sustainable Energy Development

                World Environment Day 2023: History, theme and significance

                World Environment Day 2023: History, theme and significance

                Femi Gbajabiamila – Nigeria’s New Chief of Staff

                Femi Gbajabiamila – Nigeria’s New Chief of Staff

                Trending Tags

                • DIGITAL ECONOMY
                  Zambia, Israeli discuss bilateral relations

                  Zambia, Israeli discuss bilateral relations

                  Ghana launches HIV Self-Testing kit

                  Ghana launches HIV Self-Testing kit

                  Kenya: President Ruto Signs County Allocation of Revenue and Equalisation Bills

                  Chairman of Afreximbank calls for intra-African trade.

                  Chairman of Afreximbank calls for intra-African trade

                  Afreximbank launches Insurance subsidiary to support intra-African trade

                  Afreximbank launches Insurance subsidiary to support intra-African trade

                  Eritrea: President Isaias Afwerki returns home

                  Eritrea: President Isaias Afwerki returns home

                  President Ramaphosa meets large exporters on the state of South Africa’s logistics system

                  ECOWAS shares dialogue, negotiation and mediation capacity building experiences at The Hague

                  ECOWAS shares dialogue, negotiation and mediation capacity building experiences at The Hague

                  Kenya: Ministry of Health welcomes new Kenya Medical Supplies Authority Chairperson, Mr. Daniel Rono

                  Kenya: Ministry of Health welcomes new Kenya Medical Supplies Authority Chairperson, Mr. Daniel Rono

                  Trending Tags

                  • INTERVIEW
                    Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

                    Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

                    Ghana’s registra department: driving digitization for effecient services

                    Ghana’s registrar department: driving digitization for efficient services

                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

                    Why Nigeria Needs Aircraft Leasing Companies- Captain Abdulsalami Mohammed

                    Why Nigeria Needs Aircraft Leasing Companies- Captain Abdulsalami Mohammed

                    Interview with Jennifer Blanke, Vice President Agriculture, Human and Social Development at the African Development Bank Group, Ahead of the 2019 Gender Summit

                    Interview with Jennifer Blanke, Vice President Agriculture, Human and Social Development at the African Development Bank Group, Ahead of the 2019 Gender Summit

                    Now is the Time to Partake in Nigeria’s Next Level Roadmap – Damilola Ogunbiyi

                    Now is the Time to Partake in Nigeria’s Next Level Roadmap – Damilola Ogunbiyi

                    Trending Tags

                    • EVENTS
                      • PUBLIC SECTOR AWARDS
                      • GHANA PUBLIC SECTOR PR AWARDS
                    • LISTS
                      • All
                      • PSCEOW
                      • PSMOW
                      Edwin Alfred Provencal emerges Public Sector Global ‘CEO of the Week’

                      Kenya’s Moses K. Kuria emerges as Public Sector Global ‘Minister of the Week’

                      Edwin Alfred Provencal emerges Public Sector Global ‘CEO of the Week’

                      Edwin Alfred Provencal emerges Public Sector Global ‘CEO of the Week’

                      South Africa’s Thulas Nxesi emerges as Public Sector Global ‘Minister of the Week’

                      South Africa’s Thulas Nxesi emerges as Public Sector Global ‘Minister of the Week’

                      Pascal Bizimana Ruganintwali emerges Public Sector Global ‘CEO of the Week’

                      Pascal Bizimana Ruganintwali emerges Public Sector Global ‘CEO of the Week’

                      Hon. Matthew Opoku Prempeh emerges Public Sector Global ‘Minister of the week’

                      Hon. Matthew Opoku Prempeh emerges Public Sector Global ‘Minister of the week’

                      Hon. Aisha Jumwa Katana emerges Public Sector Global ‘Minister of the week’

                      Hon. Aisha Jumwa Katana emerges Public Sector Global ‘Minister of the week’

                      Her Excellency Hon Reem Ebrahim Al Hashimy, Minister of State for international Cooperation, United Arab Emirates Emerges PSG Minister of the Week

                      Her Excellency Hon Reem Ebrahim Al Hashimy, Minister of State for international Cooperation, United Arab Emirates Emerges PSG Minister of the Week

                      Hon Aisha Jumwa, Minister of Public Service, Gender & Affirmative, Kenya has Emerged APS Minister of the Week

                      Hon Aisha Jumwa, Minister of Public Service, Gender & Affirmative, Kenya has Emerged APS Minister of the Week

                      Hon Aisha Jumwa, Minister of Public Service, Gender & Affirmative, Kenya has Emerged APS Minister of the Week

                      Hon Aisha Jumwa, Minister of Public Service, Gender & Affirmative, Kenya has Emerged APS Minister of the Week

                      Trending Tags

                      • DOWNLOAD
                        • MAGAZINE
                        • NEWSLETTER
                          • JUNE
                          • JULY
                          • AUGUST
                          • MARCH 2023
                      No Result
                      View All Result
                      Public Sector Magazine
                      No Result
                      View All Result
                      Home NEWS

                      African Regulators Urged to Supervise Global Credit Rating Agencies

                      Public Sector Global by Public Sector Global
                      August 5, 2023
                      in NEWS
                      0
                      African Regulators Urged to Supervise Global Credit Rating Agencies
                      Share on FacebookShare on Twitter

                      Africa should develop regulatory mechanisms to supervise international credit rating agencies (CRAs) to avoid erroneous assessments that discourage investment on the continent, an experts’ report has urged.

                      “African regulators need to develop regulatory mechanisms to supervise the work of international CRAs operating within their respective jurisdictions to ensure proper conduct of business and enforcement,” African experts said in a report, African Sovereign Credit Review Mid-Year Outlook.

                      “It is imperative for regulators to ensure accountability on inaccurate rating opinions issued in Africa,” the report urged.

                      The joint report by the Economic Commission for Africa (ECA) and the African Peer Review Mechanism (APRM) says despite positive economic projections, Sovereign Credit ratings in Africa are getting worse.

                      A sovereign credit rating is an independent assessment of the creditworthiness of a country. Sovereign credit ratings give investors insights into the level of risk associated with investing in the debt of a particular country, including any political risk.

                      The review report further recommended that African countries should regulate the publication of ratings and a rating calendar so as to curb impromptu rating announcements that disrupt financial markets.

                      “The recent downgrading of five African countries by the top three CRAs has reversed the optimism amongst investors on the international financial markets that African countries are recovering from the devastating Covid-19 economic shocks, ” the report said, citing that five African countries were downgraded by international credit rating agencies in 2023.

                      In 2023, Standard & Poor’s, Moody’s Investors Service, and the Fitch Group downgraded Ghana, Nigeria, Kenya, Egypt and Morocco citing increasing government financing needs and pressures from the upcoming ‘wall of Eurobond maturities combined with poorly structured terms of international bonds.

                      Besides, the global credit rating agencies based their downgrades on ‘weakening external liquidity position due to an unfavorable foreign exchange trajectory, the growth of debt service cost and the high yields on the Eurobond financial markets’.

                      However, Nigeria and Kenya rejected Moody’s rating downgrades, citing lack of understanding of the domestic environment by the rating agencies and that their fiscal situation and debt were not as bad as estimated in Moody’s review.

                      Moody’s and Fitch also downgraded Egypt in a move that has pushed up its borrowing costs to issue a sovereign bond at over 10 percent. Egypt currently has the highest sovereign bond value outstanding in Africa at US$37.5 billion.

                      The report says challenges were noted during the review period and these included errors in publishing ratings and commentaries and that analysts were located outside the African continent to avoid regulatory compliance, fees, and tax obligations.

                      Besides, the experts found that there were impromptu ratings and announcements that did not follow a rating calendar and there was a “herding behavior” amongst the rating agencies to follow other rating agencies’ actions, and there was increased rating analysts’ workload.

                      All these results in failures to adhere to applicable surveillance policies and procedures, the report says, calling on CRAs to acknowledge weaknesses in their institutional structures and to have more analysts in Africa to address challenges stemming from foreign-based assessments.

                      “Solution to these challenges lies in effective regulation and eliminating reliance on credit rating opinions,” the report noted, adding that, “Effective regulation should ensure that rating agencies stay independent, keeping up the integrity and quality of the rating process.”

                      Tags: African Peer Review MechanismEconomic Commission for AfricaGlobal Credit Rating
                      Previous Post

                      Ghana: GNAT advises BECE candidates against exam malpractices

                      Next Post

                      Ghana: Akufo-Addo commissions US$6.6 million sewerage and treatment plants

                      Public Sector Global

                      Public Sector Global

                      Next Post
                      Ghana: Akufo-Addo commissions US$6.6 million sewerage and treatment plants

                      Ghana: Akufo-Addo commissions US$6.6 million sewerage and treatment plants

                      • Trending
                      • Comments
                      • Latest
                      Peter Obi under pressure to step down says Top Campaign Manager

                      Peter Obi under pressure to step down says Top Campaign Manager

                      April 17, 2023
                      Mr Alphayo J. Kidata, Commissioner General, Tanzanian Revenue Authority Emerges APS “CEO OF THE WEEK”

                      Mr Alphayo J. Kidata, Commissioner General, Tanzanian Revenue Authority Emerges APS “CEO OF THE WEEK”

                      June 12, 2023
                      Richest country in Europe marks third year of free public transport

                      Richest country in Europe marks third year of free public transport

                      March 23, 2023
                      Engr. Bisoye Coker Odusote, GM/CEO, Lagos State Infrastructure Maintenance and Regulatory Agency  Emerges APS “CEO OF THE WEEK”

                      Engr. Bisoye Coker Odusote, GM/CEO, Lagos State Infrastructure Maintenance and Regulatory Agency Emerges APS “CEO OF THE WEEK”

                      August 31, 2022
                      FG Applauds NNPC Foray into Renewable Energy

                      FG Applauds NNPC Foray into Renewable Energy

                      0
                      Nigeria: 10,623 Poor Persons Get FG’s N5, 000 Monthly in Kaduna

                      Nigeria: 10,623 Poor Persons Get FG’s N5, 000 Monthly in Kaduna

                      0
                      BMCE Bank of Africa Launches Its 4th Edition of The African Entrepreneurship Award (AEA) Supporting Innovative Entrepreneurs in Africa

                      BMCE Bank of Africa Launches Its 4th Edition of The African Entrepreneurship Award (AEA) Supporting Innovative Entrepreneurs in Africa

                      0
                      Working Visit of the Chairperson of the African Union Commission in Algeria

                      Working Visit of the Chairperson of the African Union Commission in Algeria

                      0
                      Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

                      Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

                      October 2, 2023
                      Kenya: Lands ministry implements cashless revenue collection to combat corruption

                      Kenya: Lands ministry implements cashless revenue collection to combat corruption

                      October 2, 2023
                      Ghana Export Promotion Authority keen on developing coconut industry

                      Ghana Export Promotion Authority keen on developing coconut industry

                      October 2, 2023
                      Former First Lady of Ghana, Theresa Kufuor dies at 87

                      Former First Lady of Ghana, Theresa Kufuor dies at 87

                      October 2, 2023

                      Recent News

                      Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

                      Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

                      October 2, 2023
                      Kenya: Lands ministry implements cashless revenue collection to combat corruption

                      Kenya: Lands ministry implements cashless revenue collection to combat corruption

                      October 2, 2023
                      Ghana Export Promotion Authority keen on developing coconut industry

                      Ghana Export Promotion Authority keen on developing coconut industry

                      October 2, 2023
                      Former First Lady of Ghana, Theresa Kufuor dies at 87

                      Former First Lady of Ghana, Theresa Kufuor dies at 87

                      October 2, 2023
                      Facebook Twitter Instagram LinkedIn
                      Public Sector Magazine

                      Public Sector Global magazine is a free bi monthly publication that delivers cutting edge news, analysis, reports and exclusive interviews about challenges, opportunities and progress on the global public sectors space . We keep stakeholders informed of various government activities and initiatives.
                      Contact us: info@publicsectormag.net

                      Follow Us

                      Browse by Category

                      • APS TOP WOMEN
                      • DIGITAL ECONOMY
                      • EVENT
                      • Featured
                      • Features
                      • Government ICT
                      • INTERVIEW
                      • NEWS
                      • PERSONALITY
                      • Photo News
                      • PS Finance
                      • PSCEOW
                      • PSMOW
                      • PSWEEKLY
                      • Review
                      • Uncategorized
                      • Women in Public Sector

                      Recent News

                      Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

                      Kenya: Lands ministry embarks on audit of registries to enhance service delivery and ash collection

                      October 2, 2023
                      Kenya: Lands ministry implements cashless revenue collection to combat corruption

                      Kenya: Lands ministry implements cashless revenue collection to combat corruption

                      October 2, 2023

                      Copyright © PublicSector Mag 2023. All Rights Reserved

                      No Result
                      View All Result

                      Copyright © PublicSector Mag 2023. All Rights Reserved