African Credit Ratings Agency Set for September Debut

Pan-African assessment agency the African Peer Review Mechanism has announced the newly established Africa Credit Ratings Agency (AfCRA) will begin operations in September 2025.

The AfCRA will serve as a locally anchored evaluation system and focus on local-currency debt ratings to bolster domestic capital markets and reduce dependence on foreign-currency borrowing.

With aims to guarantee impartiality and credibility, the AfCRA will be supported by private-sector organizations and investors throughout the continent.

The AfCRA is finalizing the appointment of a CEO, which will be announced by Q3 2025.

The establishment of the AfCRA comes in response to publicly criticized consecutive downgrades of African economies by major global firms including Fitch, Moody’s and S&P, which lead to heightened borrowing costs and potential sovereign defaults.