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Afreximbank Supports New African Credit Agency
The African Credit Rating Agency (AfCRA) has been launched with the aim of strengthening the financial infrastructure in Africa by providing independent and reliable credit assessments of economic, sovereign, and institutional risks. The agency seeks to improve the accuracy and transparency of ratings, expand coverage to include local currency markets and non-sovereign markets, thereby enhancing investment attractiveness and leading to the development of deeper capital markets across the continent. Officials from Afreximbank emphasize the importance of having a unique rating methodology that aligns with the specificities of the African environment and institutions, while maintaining the agency’s independence and full African ownership, to deliver assessments that more accurately reflect the strengths and weaknesses of Africa's economic opportunities.
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