A fairer credit rating system for African countries could save billions

Subjectivity and bias in African credit ratings costs countries up to $24 billion in interest and over $46 billion in foregone lending. Host Landry Signé is joined by Raymond Gilpin and Daouda Sembene to discuss their 2024 Foresight Africa piece “Making Africa’s credit ratings more objective.” Gilpin and Sembene discuss the reasons this subjectivity exists, the costly implications, and government and private-sector solutions for improving credit rating objectivity across the continent.