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My hopes for the Africa Credit Rating Agency, AfCRA

My hopes for the Africa Credit Rating Agency, AfCRA

Africa’s pension funds, insurers and banks hold about US$4 trillion, by the APRM’s estimate, and less than 5 per cent of it is in anything rated. Foreign-currency bonds cannot feed another agency on fees. The neglected work is local-currency debt, where a factory actually borrows.
Dennis Matanda 12 Oct 2026
Africa's Particular Liability of Foreignness

Africa's Particular Liability of Foreignness

Unfamiliarity can influence the composition of capital that does. A financier reluctant to assess local customers, suppliers and operating conditions may prefer a transaction secured by offshore revenues or a sovereign guarantee.
Dennis Matanda 09 Oct 2026
Why Global Capitalists Remain Disinterested in Africa

Why Global Capitalists Remain Disinterested in Africa

Disinterested capital is not bad capital or even the Wrong Kind of Capital. It is capital whose return does not wait for Africa to develop, and a continent financed mostly by that kind of capital can grow for a very long time without developing.
Dennis Matanda 01 Aug 2026

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