African Rating Agency opens in Mauritius
The African Union has launched the African Credit Rating Agency (AfCRA) in Mauritius, which will evaluate sovereign, sub-sovereign and corporate borrowers, including financial institutions and private companies.
The AfCRA's mandate covers segments of the African market that remain largely unrated. Such a field of activity can provide investors with more information about small issuers and local institutions.
AfCRA will work in conjunction with Fitch Ratings, Moody's Ratings, and S&P Global Ratings, as global ratings remain an integral part of bond requirements, regulatory frameworks, and institutional investment processes.
With the launch of the program, Mauritius is gaining an increasingly important role in the infrastructure of the African capital market. An institution serving borrowers and investors across the continent has appeared in Port Louis. This positions the island as a structural hub of African finance.
FURTHER AFRICA
