Ghana’s S&P rating upgrade sparks hope for investor confidence – Analyst
By Rebecca Okine
Economic analyst Emmanuel Boateng of Zed Multimedia says Ghana’s recent sovereign credit rating upgrade by S&P Global Ratings is a step in the right direction to restore investor confidence and regain access to international capital markets.
S&P upgraded Ghana’s foreign-currency credit rating from Selective Default (SD) to CCC+, citing improvements in debt restructuring efforts and signs of economic stabilization.
Speaking on the Business Breakfast show on Zed, Mr. Boateng described the move as “critical” but cautioned against overconfidence.
“An improved rating can enhance investor confidence. Particularly, when credit ratings improve, the expectation is that confidence in the market will follow,” he said.
Boateng, however, emphasized that the CCC+ rating remains speculative, meaning the country still faces high borrowing costs and financial risk.
“You’re no longer failing, but you’re not in the clear either. This rating still comes with risks and must be managed carefully,” he explained.
He called on the government to build on the momentum by tightening fiscal discipline, sealing financial leakages, and reinforcing public institutions.
“Now is the time to fix leakages in our system and reinforce our institutions so we can sustain growth and avoid falling back into crisis,” Mr. Boateng added.
