The first edition of the regional forum on financial rating in Central Africa kicked off on October 28 in Douala, Cameroon. The event, themed "Financial Rating: A Lever for Transparency and Attractiveness for States and Enterprises in the CEMAC Zone," aims to promote transparency and attract investments in the region. The forum was opened by Jean Didier Afane Fono, Treasurer-Payer General of Douala, on behalf of the Minister of Finance.
The forum brings together stakeholders from various sectors to discuss the importance of financial rating in facilitating access to resources for infrastructure development, industrialization projects, and modernization of public services. With the goal of accelerating economic transformation in the sub-region, participants emphasize the need for increased transparency and trust in financial mechanisms. According to Geneva Investment Corporation, trust is a crucial element in mobilizing capital for development.
Serges Mathieu Kombou, Managing Director of GIC Rating S.A., highlighted the significance of trust in financial transactions, stating that it is the invisible cement that links investors to projects, savings to investments, and ambition to development. He emphasized that financial rating enables a better assessment of risk, provides more informed investors, and strengthens trust in financing mechanisms.
The forum provides a platform for experts to share knowledge and best practices in financial rating, with the aim of promoting a culture of transparency and accountability in the region. Participants also discuss ways to address challenges and limitations in implementing financial rating systems in Central Africa. The event concludes on October 29.
The Cameroonian government has been actively promoting initiatives to enhance transparency and attract investments in the country. The forum is part of a broader effort to strengthen the business environment and promote economic growth in the region. By improving transparency and accountability, the government aims to increase investor confidence and stimulate economic development.
The regional forum on financial rating is expected to contribute to the development of a more transparent and attractive investment climate in Central Africa. By fostering dialogue and collaboration among stakeholders, the event aims to promote a better understanding of financial rating and its role in facilitating access to resources for development projects.
The success of the forum is expected to have a positive impact on the economic development of the region, as increased transparency and accountability can lead to increased investor confidence and more investments in infrastructure and development projects. The government and private sector stakeholders are working together to promote a culture of transparency and accountability, which is essential for sustainable economic growth.
Key points
- The forum aims to promote transparency and attract investments in Central Africa through financial rating.
