Africa’s credit rating top agenda as APRM stakeholders meet in Dar

TANZANIA, Dar es Salaam : AS the trend of sovereign credit ratings continues on the downward spiral with five African economies being downgraded in 2023, African Peer Review Mechanism (APRM) secretariat members are meeting in Dar es Salaam to deliberate the matter today (Thursday).

This was revealed by APRM-Tanzania Executive Secretary Mr Lamau Mpolo in Dar es Salaam, saying various APRM Africa top leaders have arrived in the country for a series of workshops which will discuss different issues including but not limited to Africa’s credit rating.

Mr Mpolo noted that the African Union (AU) considers the matter to be a very sensitive issue hence requiring African countries to undergo self-appraisal credit rating as it is being done in the area of good governance.

“Normally, external institutions are conducting credit rating assessments. AU has decided that it was wise as it is being done in the aspect of good governance, African countries should examine themselves since reports are being misused, leading to the negative   impacts to our countries,” the APRM Tanzania executive secretary noted.

According to him, the arriving leaders from APRM Africa headquarters in South Africa will conduct workshops in the country focusing on guidelines on how to conduct reviews on credit rating.

He mentioned top APRM Africa figures who will be in the workshops as including the organization’s Chief Executive Officer, Prof Eddy Maloka.

He added that on August 5, 2023, APRM secretariat will hold a workshop with various stakeholders including local political parties, different groups made up of youth and people living with disability and other development partners to discuss the country’s second phase review.

APRM Tanzania is an institution that has been entrusted by the Government of the United Republic of Tanzania with the obligation to coordinate and supervise implementation of the assessment process that would culminate into the peer review of our country.

Implementation of the process is guided by laid down procedures and guidelines by the Heads of State and Government participating in the Mechanism.

The ultimate objective of APRM is to assist African countries, Tanzania being one of them, to strengthen governance in their countries. This is through participatory governance in identifying challenges that would eventually be turned into opportunities for development and best practices for sharing amongst Africans.

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