The African Union is launching the continent’s first credit rating agency on Wednesday, aiming to provide an alternative to the global “big three” by drawing on African expertise and perspectives. The opening of the Africa Credit Rating Agency (AfCRA), which will be based in Port Louis, Mauritius, comes eight years after the African Union (AU)…
The new Africa Credit Rating Agency (AfCRA) has already generated an important debate. Some analysts have portrayed it as a rival to the three established global rating agencies – Fitch, Moody’s and S&P Global. Others have questioned whether Africa needs another rating agency at all. But, based on my expertise researching African financial markets and…
The formal launch of the Africa Credit Rating Agency (AfCRA) has required considerable institutional commitment. It brings to fruition an effort that has been almost a decade in the making. In 2017, the African Union gave the African Peer Review Mechanism a mandate to support member states in the field of credit rating agencies. By…
Aukera, the pan-European battery storage and renewable energy platform backed by AtlasInvest, Reggeborgh and SFPIM (Belgium’s sovereign wealth fund), announced the closing of its €460 million structured credit facility, for which EIG, a leading institutional investor in the global energy and infrastructure sectors, served as the lead investor. With the financing in place, Aukera moves…
Ninety One has closed its third Africa Credit Opportunities Fund with $404 million, including leverage, as the investment manager expands private lending to companies and infrastructure projects across Africa and other emerging markets. Investors include development finance institutions, pension funds and family offices from Africa, Europe, the UK, the US and Canada. The fund, known…
The three major credit rating agencies – Moody’s, S&P Global and Fitch – have often differed among themselves when rating African institutions and countries. Their opinions don’t have to be aligned, but a huge gap in the ratings suggests inaccuracies in the analyses. Wrong ratings have consequences. They drive up the cost of capital. Lower…
Current credit ratings may disadvantage the continent, but wouldn’t an African agency amount to Africa ‘marking its own homework’? Can Africa itself correct the bias it says the Big Three credit rating agencies display in grading African sovereigns? The African Union (AU) and other voices on the continent believe this bias gives African countries unfairly…
Rising e-commerce and digital adoption are accelerating buy-now-pay-later growth across South Africa. South Africa’s buy-now-pay-later (BNPL) market is rapidly expanding, driven by growing consumer demand for flexible payment options, rising e-commerce adoption and increasing financial pressure on households. This is according to new research by TransUnion South Africa, titled: “Access, visibility and consequence: Understanding the…
The African Union Credit Union (AUCU), in collaboration with AUDA-NEPAD and the AU Staff Association, successfully held the Financial Literacy Week from 18-20 May 2026 under the theme “Planning Today for a Secure Tomorrow.” The three-day event, which took place at the Medium Conference Hall of the AU Commission, equipped staff across all AU organs…
In African countries, there’s a gap between the financing available for renewable energy and the projects its meant to reach. Funds are not reaching the right places and even as more funding is announced for clean energy, many projects don’t get off the ground because the financial tools available don’t fit their needs. For example,…
