Latest news with #APRM
Zawya
3 hours ago
- Business
- Zawya
African Peer Review Mechanism (APRM): 'Fitch's Downgrade of Afreximbank's Rating is Based on Flawed Loan Classification'
In line with Decision [Assembly/AU/Dec.631(XXVII)] of the African Union Assembly of Heads of State and Government and Article 6(g) of the African Peer Review Mechanism (APRM) Statute (2020), which together mandate the APRM to provide support to African countries in the field of credit ratings. The APRM routinely undertakes independent analyses of rating actions and commentaries issued by international credit rating agencies on African sovereigns and multilateral financial institutions. On 4 June 2025, Fitch Ratings downgraded African Export-Import Bank (Afreximbank), lowering its long-term foreign currency issuer default rating from 'BBB' to 'BBB-' with a negative outlook. Fitch justified its decision by citing a perceived increase in credit risk and weak risk management policies, based on its estimate that the bank's non-performing loans (NPLs) stood at 7.1%. This estimate stems from Fitch's classification of exposures to the sovereign Governments of Ghana (2.4%), South Sudan (2.1%) and Zambia (0.2%) as NPLs. Notably, this 7.1% figure is significantly higher than the 2.44% ratio reported by Afreximbank in its own disclosures. The APRM notes with concern Fitch Ratings' misclassification of Afreximbank's sovereign exposures to the Governments of Ghana, South Sudan and Zambia as NPLs. This classification raises critical legal, institutional and analytical issues which the APRM strongly contests. The assumption that Ghana, South Sudan and Zambia would default on their loans to Afreximbank is inconsistent with the 1993 Treaty establishing the Bank to which Ghana and Zambia are both founding members, shareholders and signatories. The Multilateral Treaty signed in 1993 is legally binding on all member countries, imposing specific legal obligations related to the Bank's protection, immunities and financial operations. By virtue of this Treaty, loans extended by Afreximbank to its member countries are governed by a framework of intergovernmental cooperation and mutual commitment, rather than typical commercial risk principles. It is, therefore, legally incongruent to classify a loan to member countries as non-performing, especially when the borrower states are shareholders in the lender institution, no formal default has occurred and none of the sovereigns have repudiated the obligation. Fitch's unilateral treatment of these sovereign exposures – as comparable to market-based commercial loans – despite their backing by treaty obligations and shareholder equity stakes, is flawed. Doing so reflects a misunderstanding of the governance architecture of African financial institutions and the nature of intra-African development finance. Fitch has misinterpreted the invitation extended by Ghana, South Sudan and Zambia to Afreximbank to discuss the loan repayments as signalling an intention to default and/or to lift the Preferred Creditor Status. The APRM calls upon Fitch Ratings to re-examine its criteria and assumptions in this case and to engage in technical consultations with Afreximbank and other relevant African stakeholders. Objective, transparent and context-intelligent credit assessments are critical to ensuring fair treatment of African institutions in the global financial system. The APRM reaffirms its commitment to promoting accuracy in the credit ratings. Distributed by APO Group on behalf of Afreximbank. APRM CREDIT RATING RESEARCH &ADVISORY For inquiries contact: Dr McBride Nkhalamba Ag. Director of Governance&Specialised Reporting Dr Misheck Mutize Lead Expert on Credit Rating Agencies Ms. Ejigayhu Tefera Researcher For media inquiries or further information, please contact the APRM Continental Secretariat at info@ @ APRMorg – X
Biz Bahrain
22-05-2025
- Business
- Biz Bahrain
BIBF renews strategic partnership with PRMIA
The Bahrain Institute of Banking and Finance (BIBF) renewed its strategic partnership with the Professional Risk Managers' International Association (PRMIA) through a Memorandum of Understanding (MoU) signed during an official visit by PRMIA Chief Executive Officer Justin C. McCarthy to the BIBF headquarters. The agreement reinforces both institutions' commitment to advancing professional development in risk management across Bahrain and the region. It enables BIBF to continue offering training aligned with PRMIA's internationally recognised certifications, including the Professional Risk Manager (PRM), Associate Professional Risk Manager (APRM), and Operational Risk Management Certificate (ORM). The partnership aims to support capacity building by equipping professionals with globally benchmarked qualifications and practical skills. Dr. Ahmed Al Shaikh, Chief Executive Officer of BIBF, said that the extension of the collaboration with PRMIA reflects a shared commitment to excellence in professional education and enhances BIBF's ability to deliver world class training in support of the region's risk management and financial sectors. McCarthy noted that the partnership with BIBF has been instrumental in broadening access to high quality risk education in the region and expressed interest in continuing the successful collaboration. BIBF continues to serve as a key regional hub for financial training, supporting professionals in Bahrain and beyond. The renewed MoU also includes enhanced support through the BIBF's growing e-learning platform, enabling candidates to access virtual classes and flexible learning options.
Zawya
15-05-2025
- Politics
- Zawya
Afrobarometer and African Peer Review Mechanism renew partnership to strengthen governance data and accountability in Africa
Afrobarometer ( and the African Peer Review Mechanism (APRM) have renewed their partnership with a three-year memorandum of understanding aimed at strengthening collaboration on governance data, monitoring, and evidence-based policy making across Africa. APRM CEO Amb. Marie-Antoinette Rose Quatre and Afrobarometer CEO Joseph Asunka signed the agreement on the sidelines of the APRM's Third Africa High-Level Forum on South-South and Triangular Cooperation last week in Freetown, Sierra Leone. Afrobarometer is a pan-African, non-partisan survey research network that provides reliable data on African experiences and evaluations of democracy, governance, and quality of life. A wide range of stakeholders routinely use Afrobarometer data in policy planning, programme development and implementation, and monitoring and evaluation. The African Peer Review Mechanism (APRM) is a specialised agency of the African Union that supports good governance through voluntary assessments, peer learning, and national reform programmes aligned with Africa's development goals. Over the years, Afrobarometer data have served as a valuable resource for several APRM publications, including Africa Governance Report 2023: Unconstitutional Changes of Government in Africa ( In addition, the APRM drew on Afrobarometer's expertise in developing the methodology and tools for its African Governance Atlas. Through the Data for Governance Alliance project, led by Afrobarometer, the two institutions have also collaborated on several webinars and events. The renewed partnership aims to improve the availability and use of citizen-centred data by aligning Afrobarometer's public opinion research with APRM governance-monitoring tools such as the Africa Governance Index and national programmes of action. The two institutions will also work together to strengthen data systems, build capacity, and promote the inclusion of youth and gender-focused governance indicators. 'This partnership reflects our shared commitment to putting citizens at the heart of governance,' said Asunka. 'By aligning our data systems and sharing expertise, we can ensure that public opinion is not only heard but used to shape responsive and accountable leadership, and also accelerate progress on Agenda 2063.' 'We've been working very closely with Afrobarometer for a while now because the work that APRM does is evidence-based,' Quartre added. 'This MoU reflects a level of commitment to collaborate with each other and to really enrich our work on the ground and in the member states.' Distributed by APO Group on behalf of Afrobarometer. For more information, please contact: Maame Akua Amoah Twum Afrobarometer communications manager Email: maameakua@ Telephone: +233208326343 Visit us online at Follow Afrobarometer releases on #VoicesAfrica. African Peer Review Mechanism (APRM) Contact: APRM Continental Secretariat info@ @ APRMorg - X Social Media: Facebook X LinkedIn YouTube Instagram WhatsApp Bluesky About Afrobarometer: Afrobarometer (AB) is a trusted source of high-quality data and analysis on what Africans are thinking. With an unmatched track record of 400,000+ interviews in 42 countries, representing the views of more than three-fourths of the African population, AB is leading the charge to bridge the continent's data gap. AB data inform many global indices, such as the Ibrahim Index of African Governance, Transparency International's Global Corruption Barometer, and the World Bank's Worldwide Governance Indicators. The data are also used for country risk analyses and by credit rating and forecasting agencies such as the Economist Intelligence Unit. All AB data sets are publicly available on the AB website and may be analysed free of charge using AB's online data analysis tool. About APRM: The African Peer Review Mechanism (APRM) was launched in 2003 by the NEPAD Heads of State and Government Implementation Committee (HSGIC) as a voluntary, self-monitoring mechanism for African Union member states. It serves as a uniquely African-owned and African-led platform for self-assessment, peer learning, and experience sharing, with the overarching goal of promoting democratic governance, economic growth, sustainable development, and deeper regional and continental economic integration.
Zawya
07-05-2025
- Politics
- Zawya
New African Peer Review Mechanism (APRM) Chief Executive Officer (CEO) Meets Sierra Leone's President Julius Maada Bio, Lauds His Leadership
The newly appointed Chief Executive Officer of the African Peer Review Mechanism (APRM), Ambassador Marie Antoinette Rose Quatre, has commended President Julius Maada Bio for his visionary leadership and steadfast commitment to governance. The commendation came during a courtesy visit to State House, as Sierra Leone hosts the South-South and Triangular Cooperation for Sustainable Development forum. Ambassador Quatre expressed profound gratitude for President Bio's support on her appointment as Chief Executive Officer of the APRM. 'Your leadership and dedication to good governance have been an inspiration, and I look forward to working closely with Sierra Leone in my new capacity,' she said. In welcoming the APRM CEO, President Bio reaffirmed his administration's resolve to strengthen governance systems and promote sustainable development across Sierra Leone. 'We are committed to enhancing the lives of our people through effective governance,' he said. 'Your role as CEO of the APRM is critical, and we stand ready to support you in ensuring the success of your mission.' President Bio also underscored the significance of the APRM in strengthening transparency and accountability across Africa. 'The APRM is a vital tool for self-assessment and peer learning,' he remarked. 'It enables us to build on our strengths and confront our challenges with clarity and purpose.' Sierra Leone's hosting of the South-South and Triangular Cooperation for Sustainable Development initiative underscores its growing influence in regional development efforts. The event convenes representatives from developing nations to share knowledge, experiences, and strategies aimed at advancing mutual growth and sustainable progress. Distributed by APO Group on behalf of State House Sierra Leone.
Zawya
01-05-2025
- Politics
- Zawya
Sierra Leone's President Julius Maada Bio Inaugurates National Governing Council for African Peer Review Mechanism (APRM), Reaffirms Commitment to Transparency and Accountability
His Excellency Dr. Julius Maada Bio has officially inaugurated the National Governing Council of the African Peer Review Mechanism (APRM) at State House, reinforcing Sierra Leone's commitment to good governance, transparency, and democratic accountability. The inauguration marks a significant milestone in the country's governance reform efforts and reaffirms Sierra Leone's active participation in the APRM, a Pan-African initiative dedicated to promoting self-assessment, institutional strengthening, and peer learning among African states. In his remarks, the Minister of Public Administration and Political Affairs and APRM National Focal Point, Hon. Amara Kallon, emphasized the mechanism's crucial role in fostering democratic resilience, enhancing governance systems, and facilitating inclusive national dialogue. He highlighted that the Council will oversee Sierra Leone's second country self-assessment and peer review process, ensure broad-based stakeholder consultations, and support policy measures that improve government efficiency and public accountability. Delivering his inaugural statement, Professor Duramany Lakkoh, Chairperson of the APRM National Governing Council, outlined the Council's core mandates. He also announced that the Council will coordinate the 3rd High-Level Forum on South-South and Triangular Cooperation for Sustainable Development, positioning Sierra Leone as a hub for peer learning and collaborative governance. In his response, President Julius Maada Bio congratulated the newly appointed Council members and commended their dedication and expertise. He charged them to uphold the principles of transparency, integrity, and inclusive governance as they lead Sierra Leone's APRM efforts. The President reiterated the importance of strong leadership and institutional accountability, emphasizing the APRM's role in ensuring that governance structures remain responsive, efficient, and citizen-centered. With the establishment of the APRM National Governing Council, Sierra Leone further strengthens its commitment to democratic resilience, governance reforms, and regional cooperation,' President Bio stated. 'The APRM provides an invaluable framework for self-reflection, peer learning, and evidence-based policymaking—ensuring that our national governance structures evolve to meet the aspirations of our people.' With this inauguration, Sierra Leone solidifies its role as an active and forward-looking member of the African Peer Review Mechanism, aligning its national governance practices with continental and international democratic standards. Distributed by APO Group on behalf of State House Sierra Leone.
