Respect from global investors crucial for African Rating Agencies, says Prof. Gatsi
Prof. John Gatsi, Dean of the University of Cape Coast Business School, emphasized the importance of Ghanaian or African rating agencies, asserting their relevance only if their rating methodologies remain independent of African governments’ influence and earn respect from global investors.
In a Facebook post, he highlighted the necessity of an African regulatory framework governing all rating agencies—whether Ghanaian, African, or international—over the mere establishment of African rating agencies.
Prof. Gatsi acknowledged that the perception of unfair treatment by existing rating agencies towards African countries justifies the creation of African rating agencies but stressed that these agencies must achieve credibility within the global rating environment.
In a media interview discussing Ghana’s economy and other African economic issues, the Finance Minister lamented the unfair assessments of developing countries by international rating agencies.
“If we have our own rating agency, we will have an alternative professional second opinion. When challenged, the facts can be brought to bear, and I think the African Development Bank should lead by organizing stakeholders to determine the modalities,” he stated.
