The bitter fallout between the African Export-Import Bank (Afreximbank) and global rating agency Fitch has revived debate over the need for a continental ratings firm, after officials accused the agency of misrepresentation.
On January 23, Afreximbank said it had cut its partnership with Fitch following a review of the relationship. The lender said the agency’s approach “no longer reflects a proper understanding of the bank’s Establishment Agreement, its mission and its mandate”.
