Information about economy in Africa

Country Ratings: Africa

Up-to-the-minute, worldwide country risk analyses are produced by the internal Country Risk Unit of the Euler Hermes Group. These country specialists monitor political and economic developments across the globe on an ongoing basis. You can read their reports here at any time and with up-to-date assessments.

Here you can find up-to-the-minute information on countries in Africa. You can download PDF files on the countries concerned.

N.B.: The country rating is an evaluation of the risk of payment default for short-term business in a specific country due to political and/or economic factors.
Country ratings are subject to modification. The ratings always refer to the date given in connection with the country concerned.


Learn more about

Euler Hermes Country Ratings (PDF)

Algeria

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): L1
Low vulnerability risk. Low cyclical risk.

Please note that the Algerian government adopted a complementary financial law on July 2009 which includes the establishment of documentary credits as the sole mean to pay imports.


Brief information dated 12 January 2011

Angola

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 6 October 2010

Country Review dated 5 August 2010

Benin

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 27 October 2010

Botswana

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.


Brief information dated 10 February 2010

Country Review dated 3 December 2010

Bouvet Island (N)

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: A
Low external transfer & convertibility risk and strong business environment.



Burkina Faso

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 20 April 2011

Country Review dated 23 March 2011

Burundi

as per 8/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 3 March 2010

Country Review dated 26 August 2011

Cameroon

as per 11/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 2 November 2011

Country Review dated 31 July 2009

Cap Verde

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.



Central African Republic

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 30 July 2010

Chad

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 29 April 2010

Country Review dated 4 January 2010

Comoros

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 5 August 2010

Congo, Democratic Republic

as per 12/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 14 December 2011

Country Review dated 1 March 2010

Congo, Republic

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 28 October 2009


Cote d'Ivoire

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 6 April 2011

Djibouti

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 4 February 2010

Country Review dated 1 March 2010

Egypt

as per 1/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): M3
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 18 January 2012

Equatorial Guinea

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 19 May 2010

Country Review dated 18 November 2010

Eritrea

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 21 August 2009

Ethiopia

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 26 May 2010

Country Review dated 21 August 2009

Gabon

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 24 March 2010

Country Review dated 1 March 2010

Gambia

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 17 September 2010

Ghana

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 25 May 2011

Country Review dated 15 November 2010

Guinea

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 21 October 2010

Country Review dated 9 July 2010

Guinea-Bissau

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 21 April 2010

Country Review dated 19 February 2010

Kenya

as per 11/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 9 November 2011

Country Review dated 26 February 2010

Lesotho

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 25 November 2009

Country Review dated 16 October 2009

Liberia

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 23 September 2009

Country Review dated 21 August 2009

Libya

as per 10/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 27 October 2011

Madagascar

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 24 November 2010

Country Review dated 5 August 2010

Malawi

as per 7/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 27 July 2011

Country Review dated 2 December 2009

Mali

as per 7/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 21 July 2011

Mauritania

as per 9/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 7 September 2011

Country Review dated 26 August 2011

Mauritius

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.


Brief information dated 5 May 2010

Country Review dated 16 July 2010

Mayotte (F)

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: A
Low external transfer & convertibility risk and strong business environment.



Morocco

as per 1/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): M1
Significant vulnerability risk. Low cyclical risk.


Brief information dated 25 January 2012

Mozambique

as per 9/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 14 September 2011

Country Review dated 26 August 2011

Namibia

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.


Brief information dated 2 December 2009

Country Review dated 11 September 2009

Niger

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 27 April 2011


Nigeria

as per 1/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 12 January 2012

Reunion (F)

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: AA
Very low external transfer & convertibility risk and very strong business environment.



Rwanda

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 9 September 2009

Country Review dated 15 October 2010

Sao Tomé and Príncipe

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Country Review dated 27 August 2010

Senegal

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 24 February 2010

Country Review dated 1 February 2010

Seychelles

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Country Review dated 4 June 2010

Sierra Leone

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 23 September 2009

Country Review dated 10 September 2010

Somalia

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.




Country Review dated 10 December 2010

South Africa

as per 1/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: BB
Moderate external transfer & convertibility risk and sound, above average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): M1
Low vulnerability risk. Acceptable cyclical risk, but some uncertainty.


Brief information dated 25 January 2012

Country Review dated 2 December 2009

St. Helena (UK)

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: A
Low external transfer & convertibility risk and strong business environment.



Sudan

as per 7/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 6 July 2011

Country Review dated 8 December 2010

Swaziland

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Country Review dated 9 July 2010

Tanzania

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 10 November 2010

Country Review dated 1 March 2010

Togo

as per 8/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 17 March 2010

Country Review dated 26 August 2011

Tunisia

as per 1/2012


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: B
Significant external transfer & convertibility risk and below average business environment.

Financial Flow Indicator (FFI) / Cyclical Risk Indicator (CRI): M3
Significant vulnerability risk and high cyclical risk.


Brief information dated 18 January 2012

Uganda

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 4 May 2011

Country Review dated 4 October 2009

Zambia

as per 9/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: C
High external transfer & convertibility risk and well below average business environment.


Brief information dated 21 September 2011

Country Review dated 3 September 2010

Zimbabwe

as per 6/2011


Country Risk Level:

Explanation of Euler Hermes Country Ratings



Country Grade: D
Very high external transfer & convertibility risk and weak business environment.


Brief information dated 10 February 2010

Country Review dated 20 October 2009

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