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Metropol Advocates for Structured Conversation on Credit Rating in Africa

Metropol Corporation Limited is spearheading a structured and high-level conversation about credit rating in Africa. This initiative comes as the Corporation examines how ratings impact capital raising and pricing in capital markets.

It happens against the backdrop of expressed displeasure among heads of state on the continent about global rating firms.

In its second webinar on the Africa Credit Rating Summit held on November 23, 2023, Metropol Group Managing Director Sam Omukoko emphasized the need for capital markets to embrace credit rating.

“This would fast-track applications looking at raising capital through the issuance of various instruments, making them extremely attractive and offering an alternative for long-term funding that many corporates are currently not getting,” said GMD Omukoko.

The webinar was graced by distinguished key speakers from different financial fields of expertise, including John Ngumi, an investment banker.

Ngumi highlighted that credit ratings are critical for accessing capital, whether it’s global or African, from a myriad of investors and lenders.

His key point of discussion was the need for internal resources that understand the workings of credit rating agencies.

“This understanding would enable entities to craft a narrative that resonates with the credit rating agencies,” said Ngumi.

Also present was James Murigu, Director of Metropol Corporation who shed light on a critical aspect of credit rating agencies.

He said the beauty of ratings goes beyond accounts and brings in the aspect of business reports. He further noted that rating agencies not only assign credit ratings but also play a vital role in assisting companies in enhancing their financial profiles.

Metropol’s Economic Policy Expert and Advisor, Ndiritu Muriithi, moderated the dialogue and said there is an African peer review mechanism in progress with the idea of establishing an Africa credit rating agency.

Metropol Corporation Limited has emerged as a key player in the African financial markets, taking the lead in the credit rating domain. To achieve this, Metropol understands the importance of not only adhering to the established rules but also striving to present its best capabilities – thus committed to excellence and aspiring to continually put its best foot forward in all the endeavors.

Lawrence Baraza

Lawrence Baraza is a dynamic journalist currently overseeing content at Metropol TV Digital. With a keen focus on business news and analytics, Lawrence guides the platform in delivering insightful, data-driven content that empowers its audience to make informed decisions. Lawrence’s commitment to quality and his ability to anticipate market trends make him a key figure in the digital media landscape. His work continues to shape the way business news is consumed, making a significant impact in the field.

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