African Union launches Africa Credit Rating Agency in Mauritius to offer independent financial risk assessments

On October 7, 2026, the African Union launched the Africa Credit Rating Agency (AfCRA) in Mauritius. The agency aims to provide independent credit ratings for African states and companies, offering an alternative to Moody's, S&P, and Fitch. Currently, only 32 of 55 African countries have ratings from these international agencies. AfCRA's independence is ensured by prohibiting African governments from owning shares. The launch is seen as a step toward financial sovereignty, potentially reducing borrowing costs for African entities. Mauritius views this as an opportunity to enhance its role in African capital flows.