{"id":7602,"date":"2026-11-03T12:15:54","date_gmt":"2026-11-03T12:15:54","guid":{"rendered":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/03\/afcra-targets-march-debut-for-first-african-sovereign-credit-ratings\/"},"modified":"2026-11-03T12:15:54","modified_gmt":"2026-11-03T12:15:54","slug":"afcra-targets-march-debut-for-first-african-sovereign-credit-ratings","status":"publish","type":"post","link":"https:\/\/globalnigerianews.com\/index.php\/2026\/11\/03\/afcra-targets-march-debut-for-first-african-sovereign-credit-ratings\/","title":{"rendered":"AfCRA targets March debut for first African sovereign credit ratings"},"content":{"rendered":"<p>The African Credit Rating Agency (AfCRA) is targeting the end of March 2027 to release its first sovereign credit ratings, as the agency begins engaging African governments ahead of its planned assessments.<\/p>\n<p>The agency\u2019s interim Chief Executive Officer, Sifiso Falala, disclosed this in an interview with Reuters, saying AfCRA is in talks with 15 African sovereigns and plans to conduct research in countries including Togo, Kenya, Seychelles, Burundi and Mauritius.<\/p>\n<p>On October 7, 2026, the African Union (AU) officially unveiled AfCRA, an initiative intended to provide an African perspective on the continent\u2019s creditworthiness and challenge the dominance of established global rating agencies.<\/p>\n<h4><strong>AfCRA targets first ratings by March 2027<\/strong><\/h4>\n<p>Falala said the agency expects to publish its first sovereign credit ratings before the end of March 2027, as it works towards providing an additional perspective on how African economies are assessed.<\/p>\n<p>The agency is already engaging 15 African governments and plans to conduct research across several countries as it prepares its first assessments. Its interim CEO said the planned release remains on schedule.<\/p>\n<ul>\n<li>\u201c<em>We will be in a position, by March, before the end of March, to have released results,<\/em>\u201d Falala said in an interview with Reuters.<\/li>\n<li>\u201c<em>Cost of borrowing is really a huge burden to Africa<\/em>,\u201d he said, highlighting the financial pressure facing African economies.<\/li>\n<\/ul>\n<p>AfCRA plans to issue solicited sovereign ratings, under which governments pay for assessments and provide access to officials and financial data. It also intends to assess African multilateral lenders, including Afreximbank, and private financial institutions.<\/p>\n<p>Falala cited estimates that African economies pay an additional $75 billion annually in interest costs compared with borrowers elsewhere. He also put Africa\u2019s debt at approximately $1.9 trillion, while AU figures show that the continent\u2019s annual external debt-service bill increased from $61 billion in 2010 to $163 billion in 2024.<\/p>\n<h4><strong>How Africa\u2019s own credit rating agency emerged<\/strong><\/h4>\n<p>The push for an African credit rating agency dates back to 2018, when the AU Assembly endorsed the initiative. In July 2023, African ministers responsible for finance, monetary affairs, economic planning and integration adopted a declaration in Nairobi supporting its establishment.<\/p>\n<p>The initiative comes amid longstanding concerns among African leaders about the cost of accessing international capital markets and the assessment of the continent\u2019s creditworthiness.<\/p>\n<h4><strong>What AfCRA\u2019s first ratings mean for Africa<\/strong><\/h4>\n<p>African governments have long raised concerns about the cost of accessing international capital markets, arguing that credit ratings do not always adequately reflect the continent\u2019s economic conditions and development potential.<\/p>\n<p>The ratings agency attributed the projected increase to maturing debt obligations and governments\u2019 ongoing fiscal financing needs. It also highlighted the relatively narrow investor base for African sovereign debt and the limited size of domestic financial markets as factors affecting access to commercial financing.<\/p>\n<p>Source: <\/p>\n<div class=\"nSourse\">Nairametrics<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The African Credit Rating Agency (AfCRA) is targeting the end of March 2027 to release its first sovereign credit ratings, as the agency begins engaging African governments ahead of its&hellip; <\/p>\n","protected":false},"author":1,"featured_media":7603,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/7602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=7602"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/7602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/7603"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=7602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=7602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=7602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}