President Bola Tinubu has urged the creation of an Africa-owned credit rating agency to address what he described as the continued mispricing of the continent’s risk by global financial markets.

In an Op-Ed published in the Financial Times on Monday, the President warned that African nations are facing excessively high borrowing costs driven by flawed external assessments.

Tinubu said the so-called “Africa premium,” the gap between perceived and actual economic risk — is no longer-term sustainable.

He said the continent’s access to international capital is heavily influenced by the three dominant rating agencies — Fitch Ratings, Moody’s, and S&P Global Ratings — whose decisions shape investor behaviour but often fail to reflect local realities.

Details later…