African Union Launches First Credit Rating Agency in Mauritius
Umer Jamshaid
Published October 08, 2026 | 04:45 AM
PORT LOUIS, Mauritius, (UrduPoint / Pakistan Point News / WAM - 08th Oct, 2026) The African Union on Wednesday launched the continent’s first credit rating agency, aiming to provide an alternative to the global Big Three ratings agencies as heavy debt burdens weigh on many African economies.
The Africa Credit Rating Agency (AfCRA) was launched in Port Louis, the capital of Mauritius, where it will be headquartered. The initiative took nearly a decade to develop after being approved by African leaders in 2018.
Denys Denya, Executive Vice President of Afreximbank, one of the agency’s supporters, stated that AfCRA would assist investors in better assessing investment risks in Africa by offering more information and context.