In the new 2023 Country Risk Map, issued by Allianz Trade, Morocco, Mauritius, and Botswana were judged the top three African countries with the highest scores on the continent. Allianz Trade's ratings run from AA to D, with the latter indicating a risky business investment. The letter reflects the country's medium-term rating and the digit indicates the country's short-term rating (Country Risk Level).
Botswana was rated BB1. Morocco managed to maintain an overall rating of B3, a rating it shares with Mauritius.
The rest of Africa
Elsewhere in the continent and lower down in the ratings came Nigeria (D3), South Africa (C3), Egypt (D4), and Algeria (C3).
Two African nations - the Democratic Republic of the Congo and Angola - managed to boost their economic indicators, as Allianz Trade raised their ratings from to D3 from D4 in 2022.
The forecasts
The barometer also offers its forecast of economic growth. According to this parameter, in 2023, global economic growth should fall to 2.2 percent, down from a growth rate of 3 percent in 2022.
However, according to the credit insurer Allianz Trade, a rebound of 2.3 percent is expected for 2024.
As for global inflation, it is expected to rise by 6.6 percent in 2023 and 4 percent in 2024.