Business
Africa launches its own credit rating agency in Mauritius
October 9, 2026 at 09:00 PM
The African Credit Rating Agency (AfCRA) officially launched Wednesday in Port Louis, Mauritius, with African heads of state and financial institution leaders in attendance.
- The African Credit Rating Agency (AfCRA) launched Wednesday in Port Louis, Mauritius, at a ceremony attended by heads of state and African financial officials.
- Hassan Abdallah, governor of Egypt's central bank, said the agency will strengthen African economies' access to international capital markets.
- Abdallah said Egypt's central bank has supported the agency's establishment since 2017 in cooperation with the UN Economic Commission for Africa.
- Denys Denya, Afreximbank's first deputy CEO, said the agency must set its own standards and remain independent and fully African-owned.