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Moody’s Investors Service, one of the world’s top investment rating agencies, has rated Botswana as the best credit risk in Africa, ‘Business Report’ said on Tuesday. Botswana has never had a credit rating before as it has had no need to borrow money on the external markets.
Botswana government officials were quoted as saying that Botswana wanted the rating not so much so as to borrow money but because it wanted to demonstrate its “soundness” to the international financial and investment world. Lenah Mohohlo, governor of the central bank, was quoted as saying: “It says that Botswana’s future equals stability. This rating will make it easier and cheaper for the government to borrow money from international markets.”
Botswana has also been ranked the 26th most transparent country in the world, the highest ranking of an African country, by Transparency International.
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