Africa launches new credit rating agency to reduce bias and lower costs for African economies.

The African Union plans to launch the Africa Credit Rating Agency (AfCRA) during its summit next week. AfCRA aims to provide fair and transparent credit ratings tailored to African economies, reducing reliance on international agencies and addressing their perceived biases. This initiative seeks to lower credit costs, improve access to capital markets, and enhance financial sovereignty for African countries and businesses.

6 weeks ago
4 Articles