To Bypass Moody's and S&P, the AU Activates AfCRA to Control Debt

The African Union will officially launch the African Credit Rating Agency (AfCRA) on October 7, 2026, in Mauritius, aiming to rate African states and companies to provide an alternative to Western rating agencies. According to the UNDP, some African countries borrow up to four times more than comparable economies, a situation AfCRA intends to address. The agency will be owned by private African actors and presented as independent from states to ensure its credibility and reduce borrowing costs.