The impact of tariffs on Africa is limited, Fitch said, due to the region's export composition and weaker integration into global supply chains compared to a region such as Asia.

But Sub-Saharan Africa has been one of the largest recipients of funds disbursed by the US Agency for International Development (USAID) which was frozen by executive order of US President Donald Trump.

Nonetheless, South Africa, Namibia and Ivory Coast remain relatively shielded from recent events, Paul Gamble, Head of Middle East/Africa in Fitch’s Sovereign Ratings Group, said.

And Nigeria and the Seychelles both hold positive credit outlooks from Fitch Ratings, an indication that a rating is expected to be raised in the future, thanks to ongoing reforms, he told a webinar.

"The reforms that we've seen really put the region in a better position to absorb some of these shocks," Gamble.

"The impact for the ratings looks manageable."

However, the freeze on US foreign aid was not without negative consequences, Fitch said.

--Reuters--