Dubai, UAE – Oct. 2026 – The African Union launched on Oct. 7 the continent’s first credit rating agency, seeking to offer an alternative to the “Big Three” global rating agencies as debt burdens weigh heavily on many African economies.
The African Credit Rating Agency was inaugurated in Port Louis, the capital of Mauritius, where it will be headquartered. The project took nearly a decade to prepare, having been endorsed by African leaders in 2018.
Denys Denya, deputy chief executive of Afreximbank, one of the agency’s backers, said it would help investors better assess the risks of investing in Africa by providing them with more information and context.
