The African Development Bank (AfDB) and Prosper Africa have signed a $700,000 donor contribution agreement to develop a credit rating online data platform for African markets.
This initiative aims to strengthen the analytical capacity of AfDB regional member countries, aligning with the bank’s 10-year strategy.
The platform will address long-standing challenges in data accessibility, providing high-quality, comprehensive, and timely information as a public good.
This will help bridge the gap between perceived and actual investment risks, lowering funding costs for AfDB’s regional member countries.
Key benefits of the platform include:
- Improved data accessibility: Enhancing the evaluation of investment risks across Africa
- Enhanced analytical capacity: Helping regional member countries better understand credit rating methodologies and simulate credit ratings
- Increased transparency: Providing timely and comprehensive information for evidence-based policymaking
The initiative is part of Prosper Africa’s mission to strengthen economic ties between the United States and Africa by catalysing two-way trade and investment flows.
The AfDB will host and manage the platform, ensuring quality assurance and leveraging its expertise in African economic data.
