Finance Minister Dr. Mohammed Amin Adam has expressed strong support for the establishment of an African sovereign credit rating agency. 

He believes that such an agency would provide balanced, accurate, and comprehensive assessments of credit risks, which would, in turn, facilitate access to competitive capital and foster the development of domestic financial markets across the continent.

In a recent media interview discussing Ghana’s economy and broader African economic issues, Dr. Amin Adam highlighted the challenges posed by international rating agencies. 

He noted that these agencies often provide assessments that are unfair to developing countries, adversely affecting their access to financial resources and investment opportunities.

Dr. Amin Adam emphasised that an African rating agency would be more attuned to the unique economic contexts and conditions of African nations. 

In his assessment, this local understanding would lead to more equitable and realistic credit ratings, enabling African countries to better attract investment and develop their financial markets.

“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.

Dr. Adam further stressed that such a stakeholder meeting is essential for establishing credibility that accurately reflects the ratings assigned to African nations.