Prosper Africa, the United States Department of the Treasury, and The African Development Bank are pleased to announce the signing of a Donor Contribution Agreement to develop a Credit Rating Online Data Platform. This innovative platform will enhance data accuracy and transparency critical for credit rating assessments, fostering a more favorable investment climate between the United States and Africa.
In collaboration with Lion’s Head Global Partners, the platform will be based on credit rating agency methodologies, and will collect, categorize, and increase data quality on African economies. This effort aims to address information asymmetries, bridging the gap between perceived and actual investment risk across the African continent.
Prosper Africa’s investment objectives focus on shifting investors’ risk calculations to increase capital flows between the United States and Africa. The platform will provide African sovereigns and key institutions with a self-sustaining tool to improve the availability of accurate economic data critical to credit ratings and inform fiscal and monetary policy decisions.
“We are excited to partner with The African Development Bank and the United States Department of the Treasury to develop this groundbreaking platform,” said British A. Robinson, Coordinator of Prosper Africa. “By promoting data transparency and accuracy, we can unlock new investment opportunities and drive economic growth across Africa.”
The development of the Credit Rating Online Data Platform is a critical step towards achieving Prosper Africa’s goals. With the support of The United States Treasury, this initiative demonstrates the U.S. government’s commitment to strengthening economic ties with Africa.
Source: Prosper Africa