Africa eyes domestic capital to tackle high financing costs

Experts at the 2nd Annual Conference on Credit Ratings in Mauritius said Africa needs deeper capital markets, stronger financial institutions, and better mechanisms for mobilizing its own resources to finance development. The conference, which concluded on 6 October, brought together policymakers, credit rating experts, investors, regulators, and development partners. Discussions covered risk assessment and pricing in African markets, development of local capital markets, financial literacy, artificial intelligence, and fintech. Another issue was how Africa's reserves, pension funds, sovereign wealth funds, and insurance assets could be better used for development financing.

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