African Union Launches Continental Credit Rating Agency

PORT LOUIS — The African Union has launched the Africa Credit Rating Agency (AfCRA) in Mauritius.

The new agency is designed to provide independent credit assessments focused on African economies, companies and financial institutions.

Supporters say the agency could give African countries greater control over how their economies and debt risks are assessed.

The AU says AfCRA will operate independently, with governments barred from owning shares in the agency.

The initiative also aims to improve access to information and support better-informed investment decisions across African financial markets.