The African Union has announced that the African Credit Rating Agency (AfCRA) will be officially launched on October 7, 2026, in Port Louis, Mauritius, where the agency is headquartered.
The launch marks a significant step in Africa’s efforts to strengthen its financial independence and address concerns over how African economies are assessed by international credit rating agencies.
The AU announced the development on Wednesday through its official X account, describing AfCRA as a landmark achievement for Africa’s financial sovereignty.
“For decades, skewed risk perceptions have forced African nations to pay an unfair ‘risk premium’ on global capital,” the AU said.
The AU said African economies have historically been assessed within a global financial system that does not always adequately reflect the continent’s economic realities, resilience and growth potential.
“AfCRA is our response. A bold assertion of African agency, financial sovereignty and institutional confidence,” it said.
Concerns over international credit ratings have persisted across the continent, with countries such as Ghana and Zambia arguing that repeated downgrades have contributed to higher borrowing costs and intensified their debt challenges.
AfCRA was initially expected to launch in September 2025 but the launch was postponed. The agency is expected to maintain its independence by operating without ownership by African governments.
It will also focus primarily on ratings for local-currency debt instruments, according to the AU.
The Union said the agency would help strengthen Africa’s capacity to develop independent institutions, shape its own economic narrative and exercise greater influence over its financial future.
The October 7 launch in Mauritius is therefore expected to attract significant attention as African countries seek to improve perceptions of their creditworthiness and reduce the impact of what they consider unfair risk assessments in international capital markets.
