The African Development Bank (AfDB) and Prosper Africa—a U.S. Presidential initiative to boost trade and investment between the United States and Africa—have partnered on a groundbreaking project. With a generous contribution of $700,000, this collaboration will develop an innovative online platform to improve access to credit rating data across diverse African markets.

Key Highlights:

• Enhanced Data Access:
  The new platform will provide critical data and sophisticated analytical tools, enabling stakeholders to better assess investment risks in Africa.
• A Collaborative Effort:
  Unveiled by AfDB Vice President Beth Dunford, the initiative has also engaged the U.S. Department of the Treasury. Dunford emphasized that this platform will bridge the gap between perceived and actual investment risks, ultimately lowering funding costs for AfDB’s Regional Member Countries (RMCs).
• Strategic Alignment:
  This project aligns with AfDB’s Ten-Year Strategy (2024–2033), which focuses on improving economic governance across the continent. By offering timely and high-quality information, the platform will support evidence-based policymaking and foster sustainable economic growth.
• Transforming Investor Perceptions:
  Beyond risk assessment, the platform aims to enhance the evaluation of sovereign credit ratings—a critical factor in attracting investment and promoting trade opportunities. This initiative is part of AfDB’s long-term efforts to refine credit assessments for African nations, a priority that has gained momentum since 2023.
• Prosper Africa’s Mission:
  Prosper Africa’s involvement reinforces its commitment to deepening economic ties between the U.S. and African nations, helping overcome barriers to financing through improved access to reliable credit ratings.
• Toward a Fairer Rating System:
  The platform complements AfDB’s December 2024 announcement of an African-led continental credit rating agency. This new agency aims to address biases in Western credit rating practices and promote a more accurate, equitable assessment of African economies.
• Governance and Management:
  The AfDB will host and manage the platform, ensuring its credibility and quality. Leveraging its extensive expertise in African economic data, the Bank will help maintain the platform as a trusted resource for sovereign entities, credit rating agencies, investors, and researchers.

With the combined support of AfDB and Prosper Africa, this transformative platform is set to significantly enhance the analytical capabilities of regional member countries, enabling them to simulate and improve their credit ratings. Ultimately, this initiative marks a significant step forward in advancing sustainable growth and bolstering economic governance across Africa.