The African Union is preparing to launch the Africa Credit Rating Agency in Port Louis, Mauritius, in a move intended to expand access to credit assessments and strengthen the continent’s influence over how African borrowers are evaluated.
The new institution, known as AfCRA, was established under the AU and developed under the oversight of the African Peer Review Mechanism. It will assess the creditworthiness of African governments, companies and institutions from an Africa-focused perspective.
SABC News reported on Sunday that the agency is due to be launched in Mauritius this week. Mauritius was selected as its headquarters through a competitive process.
The APRM estimates that Africa’s financial market is worth about US$4 trillion, yet less than five percent of financial instruments by value currently carry a credit rating. Unrated borrowers can find it harder and more expensive to raise capital because investors have less independent information on which to base decisions.
APRM chief executive Ambassador Marie-Antoinette Rose Quatre said AfCRA is expected to support African financial sovereignty by producing assessments that reflect the continent’s economic conditions more accurately.
The agency is intended to complement established international rating companies. Its credibility will depend on transparent methods, consistent decisions and clear safeguards against political interference, because investors will need confidence that its assessments are independent.
If AfCRA succeeds in widening coverage, more African governments and businesses could obtain the ratings needed to approach a broader range of investors. Better access to reliable assessments could also improve transparency and help reduce the information gaps that increase borrowing costs.
The launch comes as African policymakers seek more control over financial institutions that influence the continent’s cost of capital. Governments have often argued that existing ratings do not fully capture local conditions or the long-term value of infrastructure and development programmes.
AfCRA’s first ratings and the market’s response will provide the clearest measure of whether the agency can turn that ambition into lower financing barriers. Its long-term influence will rest on the trust it earns from African issuers and international investors alike.
Source: SABC News, 4 October 2026. Featured image: APRM CEO Ambassador Marie-Antoinette Rose Quatre. Credit: APRM via SABC News.