African Credit Outlook Stable as Growth Picks Up, Moody’s Says

Economic growth in sub-Saharan Africa will accelerate this year and next, underpinning the region’s stable credit outlook despite high financing costs and weak revenue collection, said Moody’s Ratings.

“Growth will be solid and, alongside increasing revenue generation, will support a gradual reduction in debt,” it said in a report on Tuesday, noting the outlook could turn positive if tax collection improves, while weakening fiscal consolidation would point the other way.