Africa is banking on own credit rating agency for better debt conditions
Flags of African countries at the AU headquarters in Addis Abba, Ethiopia, where policymakers are backing AFCRA as part of efforts to reshape how the continent’s debt and creditworthiness are assessed.
African countries are banking on the new credit rating agency to make significant savings on foreign debt and credit worthiness checks.
The African Credit Rating Agency (AfCRA) is supposed to assess the creditworthiness of borrowers—such as corporations or governments—by evaluating their ability to repay debt (principal and interest) on time.
