New Africa credit rating agency seeks to lower borrowing costs
Originally published by Citizen Digital — Read the original article →
The Africa Credit Rating Agency (AFCRA) has officially been launched in Mauritius, ushering in a new approach to assessing and pricing African credit risk.
Speaking during the launch, AFCRA inaugural Chief Executive Officer Dr Sifiso Falala said the agency seeks to address what it considers distortions in the way Africa’s credit risk is assessed, arguing that existing methodologies do not always capture the continent’s economic realities.
The launch follows a process that began in 2017 and seeks to provide African countries with an additional assessment of their credit risk profile, amid years of high borrowing costs and debt distress.
