About the Africatalyst UNDP Credit ratings Initiative

In 2024, Africatalyst and UNDP launched a joint credit ratings initiative aimed at helping African countries navigate their credit ratings processes effectively. The development of this initiative follows findings from a 2023 report titled “Lowering the Cost of Borrowing,” which identified biases in credit rating methodologies that lead to higher borrowing costs for African countries. The report estimates that more objective assessments could save these countries up to $74.5 billion.

This initiative includes three key components: the Africa Credit Ratings Resource Platform, which serves as a central hub for resources and tools on credit ratings; a Concilium of senior advisors who provide high-level guidance and support to countries seeking to enhance their credit ratings; and a community of practice designed for knowledge sharing and collaboration among government officials and other stakeholder