Africa is taking a decisive step towards economic autonomy with the launch of the Africa Credit Rating Agency (AfCRA), set to establish its headquarters in Mauritius and release its first credit assessments in 2026.
Entirely owned and operated by Africans, the agency seeks to provide an alternative to global rating firms, which have long been criticised for biases that undermine the continent’s financial independence.
Its primary mission is to support the growth of local capital markets and reduce reliance on foreign financing, while mitigating exposure to currency fluctuations.
Marie-Antoinette Rose-Quatre, Director General of the African Peer Review Mechanism (APRM), highlighted the agency’s significance, stating: “AfCRA will be independent and African-owned.”
The agency will focus on local currency debt, aiming to strengthen the resilience of domestic markets and secure sustainable domestic financing.
By incorporating local economic realities into its evaluations, AfCRA hopes to offer more reliable and contextually relevant ratings than those provided by traditional international agencies.
The agency draws inspiration from regional examples such as Bloomfield, led by CEO Stanislas Zézé, which has demonstrated that African-led firms can deliver robust credit assessments tailored to the continent’s unique circumstances.
AfCRA plans to extend its influence across multiple African countries, consolidating its credibility with international investors while promoting transparency and accountability.
Mauritius was chosen as a strategic hub due to its stable business environment, providing an ecosystem conducive to evaluating national and sectoral economic specificities.
The initiative aligns with broader continental efforts to enhance financial sovereignty, including the development of the African Continental Free Trade Area (AfCFTA) and the creation of regional financing mechanisms.
By combining independent governance with reliable local credit ratings, AfCRA is poised to encourage investment and strengthen African capital markets.
Scheduled to become operational in 2026, the agency represents a tangible step towards empowering the continent to manage its financial instruments and reduce dependency on external economic forces.
This development marks a historic moment in Africa’s pursuit of economic self-determination, offering the potential to reshape the continent’s engagement with global financial markets while promoting sustainable growth.
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