AfCRA: Africa creates its credit rating agency, creditors remain skeptical

On October 7, 2026, the African Union officially launched AfCRA in Balaclava, Mauritius. This private agency, based in Port-Louis, aims to provide a risk assessment of African sovereign debt that reflects the continent's realities, challenging international rating agencies. However, creditors remain skeptical about its credibility and independence, as the agency still needs to establish its legitimacy. AfCRA is overseen by the Pan-African Evaluation Mechanism, with no government ownership involved.