AfricanInvesting.com: A Case for an Independent African Credit Rating Agency The global credit market is a complex and often unforgiving arena, particularly for emerging economies. African countries, rich in resources and burgeoning with potential, find themselves at a disadvantage when attempting to secure financing on the international stage. The reason is not solely due to economic fundamentals but also the way these economies are perceived and rated by the dominant credit rating agencies, which are primarily based in the West.