10/03/2026
This week in Mombasa, Kenya, , in partnership the are convening the inaugural Inter-Agency Retreat on Sovereign Credit Ratings, bringing together representatives from key government institutions to strengthen coordination around Kenya’s sovereign credit rating processes.
The retreat is building on progress made last year, when the Government of Kenya hosted its first national workshop on credit ratings in Mombasa, an important milestone in strengthening the country’s capacity to better understand and manage sovereign credit ratings.
These discussions are taking place under the Africa Credit Ratings Initiative which has so far supported 18 African countries through advisory support, capacity building, and knowledge tools aimed at strengthening institutional readiness and engagement with global credit rating agencies.
Speaking during the opening session, Raymond Gilpin, Chief Economist at UNDP Africa, noted that the objective of the retreat is to leave with “a clear articulation of how Kenya will get to investment grade, how the inter-agency committee will support that journey, and the role of partners in advancing this ambition.”
Pratik Patel our Bureau Chief East and Southern Africa also emphasized the broader significance of the work, noting “Strengthening how African countries engage with sovereign credit ratings is not just a technical exercise, it is about expanding development opportunities, improving access to affordable financing, and ensuring countries can invest in their long term priorities.”
Credit ratings play a central role in shaping how international markets perceive risk, influencing borrowing costs and ultimately determining the fiscal space available for governments to invest in infrastructure, social services, and long-term development priorities.
