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<p>Fitch Ratings has revised Rwanda&#8217;s outlook to negative from stable and affirmed the Issuer Default Rating at &#8216;B+&#8217;. What position does this put Rwanda? Jermaine Leonard, Director at Fitch Ratings joins CNBC Africa for more.</p>


Fitch revises Rwanda’s outlook from stable to negative

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<p>Fitch Ratings has upgraded Cote d&#8217;Ivoire&#8217;s Long-Term Foreign-Currency Issuer Default Rating to &#8216;BB-&#8216; from &#8216;B+&#8217;, with a Stable Outlook.</p>


Fitch upgrades Cote d’Ivoire’s foreign currency IDR to BB-

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<p>Fitch Ratings has revised the outlook on Access Bank PLC’s Long-Term Issuer Default Rating from Negative to Stable and confirmed the rating at ‘B.’ The rating firm also revised the Outlook on Union Bank of Nigeria Plc to Stable from Negative, and affirmed the Long-Term Issuer Default Rating at &#8216;B-&#8216; and Viability Rating at &#8216;b-&#8216;. CNBC Africa spoke to Mahin Dissanayake,  Senior Director<br />
Fitch Ratings for more.</p>


Fitch revises outlook on Union and Access Bank to stable

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<p>Fitch Ratings has affirmed Uganda&#8217;s Long-Term Foreign-Currency Issuer Default Rating (IDR) at &#8216;B+&#8217; with a Negative Outlook. The rating agency attributes the status to Uganda’s solid medium-term growth outlook, while the negative outlook reflects downside risks to public finances. Krisjanis Krustins, Director at Fitch Ratings joins CNBC Africa for more.</p>


FItch affirms Uganda at B+ with negative outlook

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<p>Nigeria’s total debt portfolio rose to 33.1 trillion naira in the first quarter for the year with external debt at 37.67 per cent while domestic debt was at 62.33 per cent. Fitch Ratings says it expects Nigeria’s debt-to-revenue ratio to reach 395 per cent by 2022. Meanwhile, the landing cost of Premium Motor Spirit imported into Nigeria surged over 60 per cent between December 2020 to 231-naira 98 kobo per litre as of mid-June this year. Johnson Chukwu, Managing Director and CEO of Cowry Asset Management joins CNBC Africa for more.</p>


Nigeria’s debt portfolio hits 33.1 trillion naira in Q1

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<p>Almost all Emerging Market banking sectors faced a drop in their profits in 2020, due to weaker revenues and higher credit costs. In a report, ratings agency Fitch has said that the outlooks on almost half of emerging market bank ratings remain Negative. The share of negative outlooks is particularly high in Latin America, and in Middle East and Africa. Joining CNBC Africa to unpack the report is Mahin Dissenayake, Senior Director at Fitch Ratings.</p>


Fitch: Negative rating pressure on EM banks remains

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<p>Ratings agency, Fitch says the outlook for Nigerian banks&#8217; credit fundamentals has stabilised since the initial economic shock from the pandemic but noted that asset quality deterioration remains lingering risks to banks&#8217; credit. Joining CNBC Africa for more on the state of Nigeria’s banking sector is Mahin Dissanayake, Senior Director at Fitch Ratings.</p>


Fitch: Asset quality deterioration lingering risk to Nigerian banks’ credit

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<p>Fitch Ratings says although post-COVID-19 recovery is underway for Sub-Saharan Sovereigns; it is dampened by the weak state of public finances while the slow pace of coronavirus vaccination means that pandemic-related risk remains high. Jan Friederich, Senior Director at Fitch Ratings joins CNBC Africa for more.</p>


Fitch: Weak fiscals

Fitch: Weak fiscals, slow vaccination dampens SSA recovery

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<p>Fitch Ratings says financial sustainability is the next big challenge for African National Development Banks as they require improved internal capital generation and diversification of cost-effective funding to achieve the business transformation strategies pursued in recent years. Vincent Martin, Director at Fitch Ratings joins CNBC Africa for more.</p>


Fitch Ratings: Financial sustainability next challenge to African NDBs’ revival

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<p>Ethiopia is seeking to restructure its debt to ensure it has access to the markets for more capital in coming the years. After the announcement, made on the 29th of Jan, Fitch Ratings downgraded the nation’s credit and warned of an increased risk of default. Moreover, yields on Ethiopia’s $1 billion of 2024 Eurobonds soared to nine-month highs after the government’s decision. CNBC Africa spoke with Zemedeneh Negatu, Global Chairman at FairFax Africa Fund joins CNBC Africa for more.</p>


Unpacking Ethiopia’s debt restructuring plan

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<p>Fitch Ratings has downgraded Ethiopia’s rating to ‘triple C’ from ‘B’. The downgrade reflects the government&#8217;s announcement that it is looking to make use of the G20 Debt Suspension programme, which although still an untested mechanism, raises the risk of a default event. Fitch Ratings’ Toby Iles joins CNBC Africa for more.</p>


Fitch downgrades Ethiopia to ‘CCC’

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<p>Ratings Agency, Fitch says its outlook for African banks come 2021 is stable as they see a gradual normalisation with business volumes and revenues picking up.</p>


Fitch Ratings: 2021 outlook for African banks stable

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<p>Fitch Ratings has affirmed Ghana&#8217;s Long-Term Foreign-Currency Issuer Default Rating at &#8216;B&#8217; with a stable outlook. According to Fitch, the affirmation reflects its expectation of a gradual recovery in Ghana’s economic performance and fiscal revenues following the COVID-19 shock. Jermaine Leonard, Director and Primary Analyst for Ghana at Fitch Ratings joins CNBC Africa to discuss the metrics behind the ratings.</p>


Fitch affirms Ghana’s ‘B’ rating

Fitch affirms Ghana’s ‘B’ rating, outlook stable

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<p>Fitch Ratings describes the move to recapitalise Nigeria’s insurance sector as a credit positive for the industry. As Insurance firms race towards the 2021 recapitalisation deadline, Emmanuel Odiaka, Managing Director &#038; CEO of ECOB Capital joins CNBC Africa to look at how these firms can tap into the stock market to meet their recapitalisation targets.</p>


Nigerian insurers race towards recapitalisation ahead of 2021 deadline

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<p>Many South African banks will be reporting their financial results in the coming days. As expected, COVID-19 has brought on a financial crunch for banks that were already downgraded in March, by Fitch Ratings. Mahin Dissanayake, Senior Director at Fitch Ratings joins CNBC Africa to give insight into the position that banks are in and the South African Reserve Bank’s response to COVID-19.</p>


COVID-19: Is another downgrade on the cards for SA banks?


<p>JOHANNESBURG (Reuters) &#8211; A failure by South Africa to lower public debt risks triggering credit downgrades deeper into subinvestment, Fitch said on Wednesday.<br><br>Debt in Africa’s most industrialized economy is set to breach 80% of gross domestic product next year as the government borrows more to bring the coronavirus pandemic under control.<br><br>Fitch downgraded South Africa’s credit rating deeper into “junk” territory in April, citing the lack of a clear path towards debt stabilisation and higher economic growth. The other top ratings firms, Moody’s and S&amp;P, also rate the country at sub-investment grades.<br><br>“A continued rise in government debt/GDP and failure to formulate a clear and credible path towards stabilising the government debt/GDP ratio could lead to a further downgrade in South Africa’s ‘BB’ rating, which is on Negative Outlook,” said Jan Friederich, Fitch’s head of Africa sovereign ratings.<br><br>Finance Minister Tito Mboweni said in an emergency budget in June the Treasury would stick to its promise of some 230 billion rand ($13.5 billion) of spending cuts in the short term, a target set in February before the COVID-19 pandemic.<br><br>“Social and political factors, including exceptionally high inequality, powerful trade unions, and deep divisions within the governing African National Congress, present significant hurdles to fiscal consolidation,” Friederich said in a research report.<br><br></p>


Fitch Ratings

South Africa’s failure to lower debt could trigger downgrade – Fitch


<p>JOHANNESBURG (Reuters) &#8211; South Africa has a poor track record of implementing debt and spending reductions plans, ratings firm Fitch said on Tuesday, adding that consolidation plans announced in last months supplementary would be difficult to implement due to low growth.</p>



<p>“They have had previous plans to achieve a primary balance which would have required smaller adjustments, and those have been abandoned. So the track record of following up on such plans isn’t really there,” said Fitch’s head of Africa sovereign ratings Jan Friederich during a webinar.</p>


Fitch Ratings

Fitch revises Rwanda’s outlook from stable to negative

Fitch upgrades Cote d’Ivoire’s foreign currency IDR to BB-

Fitch revises outlook on Union and Access Bank to stable

FItch affirms Uganda at B+ with negative outlook

Nigeria’s debt portfolio hits 33.1 trillion naira in Q1

Fitch: Negative rating pressure on EM banks remains

Fitch: Asset quality deterioration lingering risk to Nigerian banks’ credit

Fitch: Weak fiscals, slow vaccination dampens SSA recovery

Fitch Ratings: Financial sustainability next challenge to African NDBs’ revival

Unpacking Ethiopia’s debt restructuring plan

Fitch downgrades Ethiopia to ‘CCC’

Fitch Ratings: 2021 outlook for African banks stable

Fitch affirms Ghana’s ‘B’ rating, outlook stable

Nigerian insurers race towards recapitalisation ahead of 2021 deadline

COVID-19: Is another downgrade on the cards for SA banks?

South Africa’s failure to lower debt could trigger downgrade – Fitch

South Africa has bad record on keeping budget promises: Fitch

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Fitch Ratings

Fitch revises Rwanda’s outlook from stable to negative

Fitch upgrades Cote d’Ivoire’s foreign currency IDR to BB-

Fitch revises outlook on Union and Access Bank to stable

FItch affirms Uganda at B+ with negative outlook

Nigeria’s debt portfolio hits 33.1 trillion naira in Q1

Fitch: Negative rating pressure on EM banks remains

Fitch: Asset quality deterioration lingering risk to Nigerian banks’ credit

Fitch: Weak fiscals, slow vaccination dampens SSA recovery

Fitch Ratings: Financial sustainability next challenge to African NDBs’ revival

Unpacking Ethiopia’s debt restructuring plan

Fitch downgrades Ethiopia to ‘CCC’

Fitch Ratings: 2021 outlook for African banks stable

Fitch affirms Ghana’s ‘B’ rating, outlook stable

Nigerian insurers race towards recapitalisation ahead of 2021 deadline

COVID-19: Is another downgrade on the cards for SA banks?

South Africa’s failure to lower debt could trigger downgrade – Fitch

South Africa has bad record on keeping budget promises: Fitch

News Tips

Advertise With Us

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