The African Peer Review Mechanism (APRM) has questioned Fitch ratings agency's downgrade of Africa Export-Import Bank (Afreximbank), saying it was based on a flawed categorisation of loans and calling for the decision to be reconsidered. Last week, Fitch downgraded Cairo-based Afreximbank's credit rating to BBB-, one notch above junk ratings, from BBB, citing high credit risks and weak risk management policies posed by what they term non-performing loans (NPLs) by the Governments of Ghana, South Sudan and Zambia. Thami Nguneni spoke to Dr Misheck Mutize, Lead Expert on Credit Rating Agencies at the African Peer Review Mechanism.

<p>The African Peer Review Mechanism (APRM) has questioned Fitch ratings agency's downgrade of Africa Export-Import Bank (Afreximbank), saying it was based on a flawed categorisation of loans and calling for the decision to be reconsidered. Last week, Fitch downgraded Cairo-based Afreximbank's credit rating to BBB-, one notch above junk ratings, from BBB, citing high credit risks and weak risk management policies posed by what they term non-performing loans (NPLs) by the Governments of Ghana, South Sudan and Zambia. Thami Nguneni spoke to Dr Misheck Mutize, Lead Expert on Credit Rating Agencies at the African Peer Review Mechanism.</p>

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

<p>In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.</p>

Advertisement