President Bola Ahmed Tinubu has said the soon-to-be-launched African Credit Rating Agency (AfCRA) must establish itself through independence, credibility and rigorous assessments if it wants to earn the confidence of international investors.
Tinubu welcomed the planned launch of the agency, which the African Union has scheduled for October 7, 2026, in Mauritius.
‘Africa Wants Fair Ratings’
The President said Africa was not asking international investors or rating agencies to provide favourable assessments.
Instead, he said the continent wants ratings that fairly reflect its economic fundamentals and ongoing reforms.
Tinubu argued that an Africa-based rating institution could bring greater understanding of the continent’s economic realities into credit assessments.
Independence Will Be Crucial
Tinubu stressed that AfCRA’s credibility would depend on its independence and the quality of its work.
For the agency to gain international acceptance, investors would need confidence that its ratings are based on rigorous assessments rather than political considerations.
That credibility could determine whether global investors take its assessments seriously.
October Launch Planned
The African Union has announced October 7 as the date for the official launch of AfCRA in Mauritius.
The agency is expected to provide an Africa-focused alternative in the global credit-rating landscape.
Supporters argue that African economies have sometimes been assessed without sufficient consideration of their unique economic conditions and development trajectories.
Why AfCRA Matters
Credit ratings can influence borrowing costs, investment decisions and perceptions of a country’s financial stability.
Tinubu therefore said the new institution has an opportunity to improve how African economies are assessed internationally.
But he stressed that achieving that goal would require the agency to earn, rather than assume, the trust of global capital.