Africa Credit Rating Agency launched to reshape continent’s credit risk

The Africa Credit Rating Agency, AFCRA, has officially been launched, ushering in a new era for pricing African credit risk. Speaking during the launch of the agency in Mauritius, its inaugural Chief Executive Officer, Dr. Sifiso Falala, highlighted the need to address what he termed Africa’s distorted credit risk perception. Falala argued that existing rating agencies have assigned Africa higher credit risk by using methodologies that do not accurately capture the continent’s economic realities. Jimmy Mbogoh has more from the island nation of Mauritius.