Di way dem dey rate Africa wit A, B, C scale dey hold back di kontinent dream for beta development.
Since di time wey kolonialism finish, wey dem don carry plenty resources comot, African ekonomis still dey struggle to balance for di wahala of climate change and weak government system.
Global credit rating agencies like S&P, Moody's and Fitch dey use dis same wahala take give di countries wey dey suffer already bad grades. Economists dey call am "junk status."
Even though Africa get plenty potential wey dem never touch, di bad credit ratings dey make di ekonomis dey suffer. Borrowing money dey cost plenty, and investment no dey flow enter.
"Na only 33 out of Africa 54 countries dem don rate. But na only two dey for investment grade," na wetin Raymond Gilpin, UNDP chief economist, tok give TRT Afrika.
Mauritius and Botswana na di only two countries wey get beta credit ratings. Dis one dey make investors believe say dem fit pay back di money dem borrow.
Di countries wey get beta ratings dey borrow money for cheaper rate and dem dey get more investment.
Di highest rating, AAA, dey guarantee di most investment for di lowest cost. But grade B- na di lower medium grade. "Anything wey dey below dat one na non-investment or speculative grade," Gilpin tok. 31 African countries dey for dis category.
For di past three years, di average interest rate for loans for Africa na about 10%. But for Germany, e dey 0.75%.
"Dis kain difference no just dey wahala, e dey block di resources wey Africa need to invest for green energy, infrastructure, and di things wey go connect di kontinent," Gilpin tok.
Di 19 countries wey dem never rate dey face bigger wahala because investors no dey even wan risk their money for dem.
S&P, Moody’s, and Fitch don face accusation say dem dey bias. Economists tok say di way dem dey rate no dey fair because dem no get strong presence for Africa.
"Two years ago, UNDP do report wey show say di way dem dey rate dey cost 19 African countries $74 billion," Gilpin tok. "Dis money pass wetin di kontinent dey get for development assistance for one year."
Gilpin explain say di problem dey because di data wey dem dey use no dey complete or dey come late.
If Africa fit provide beta information, di kontinent go fit show say e dey ready for investment.
Di African Union don dey tok say dem need address dis matter. South Africa G20 presidency dey also put di mata for front burner. Di kontinent need about $200 to $300 billion every year for di next stage of development.
Until Africa get beta ratings, di cost of borrowing go dey high and investment go dey reduce, wey go make development slow down.
As one report wey Vatican back tok, "Global finance suppose dey help people and di planet, no be to punish poor people to protect profit."