{"id":129299,"date":"2026-09-03T21:44:10","date_gmt":"2026-09-03T20:44:10","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=129299"},"modified":"2026-09-03T21:44:10","modified_gmt":"2026-09-03T20:44:10","slug":"tinubu-welcomes-launch-of-african-credit-rating-agency","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/tinubu-welcomes-launch-of-african-credit-rating-agency\/","title":{"rendered":"Tinubu Welcomes Launch of African Credit Rating Agency"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>By Lizzy Chirkpi<\/strong><\/p>\n<p style=\"text-align: justify;\">President Bola\u00a0 Tinubu has welcomed the planned launch of the African Credit Rating Agency (AfCRA), describing it as a significant step towards building financial institutions capable of better understanding and accurately assessing African economies.<\/p>\n<p style=\"text-align: justify;\">The African Union (AU) has announced that AfCRA will officially launch on October 7.<\/p>\n<p style=\"text-align: justify;\">Tinubu, in a statement shared on Thursday on his official X account, said the establishment of the agency was consistent with his longstanding advocacy for an African credit-rating institution capable of providing assessments grounded in the continent\u2019s economic realities.<\/p>\n<p style=\"text-align: justify;\">The President recalled that he made the case for an African credit-rating agency in an article published by the\u00a0<em>Financial Times<\/em>\u00a0in February and reiterated the call in May at the Africa CEO Forum in Kigali, Rwanda.<\/p>\n<p style=\"text-align: justify;\">\u201cIn February, I made the case in the Financial Times for an African credit rating agency. In May, at the Africa CEO Forum @africaceoforum in Kigali, I spoke again about the need for Africa to build financial institutions that understand our economies and can assess our risks properly,\u201d Tinubu said.<\/p>\n<p style=\"text-align: justify;\">He said the launch of AfCRA represented another step towards achieving that objective.<\/p>\n<p style=\"text-align: justify;\">\u201cAfCRA is another step towards that goal,\u201d he said.<\/p>\n<p style=\"text-align: justify;\">Tinubu stressed that African countries were not seeking preferential treatment from credit-rating agencies but wanted assessments that accurately reflected their economic fundamentals and the reforms being implemented across the continent.<\/p>\n<p style=\"text-align: justify;\">\u201cAfrica is not asking for favourable ratings. We are asking for fair ratings, grounded in our fundamentals and in the reforms our economies are actually carrying out,\u201d the President said.<\/p>\n<p style=\"text-align: justify;\">He, however, acknowledged that the credibility of the new agency would ultimately depend on its ability to earn the confidence of international investors and global capital.<\/p>\n<p style=\"text-align: justify;\">\u201cAfCRA must now earn the confidence of global capital. That confidence will rest on its independence and the rigour of its work,\u201d Tinubu said.<\/p>\n<p style=\"text-align: justify;\">The President expressed anticipation for the agency\u2019s official launch on October 7, saying, \u201cI look forward to October 7.\u201d<\/p>\n<p style=\"text-align: justify;\">AfCRA is being established as an African-owned credit-rating institution to assess the creditworthiness and investment risks of African governments, businesses and other entities.<\/p>\n<p style=\"text-align: justify;\">Its proponents argue that an institution rooted in African economic realities could provide a more nuanced assessment of the continent\u2019s economies, while maintaining the independence and analytical rigour required to command the confidence of investors and global capital markets.<\/p>\n<p style=\"text-align: justify;\">The agency is\u00a0 expected to provide an African-owned alternative for assessing sovereign and corporate credit risks, with the broader objective of improving how African economies and businesses are perceived and evaluated in international financial markets.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Lizzy Chirkpi President Bola\u00a0 Tinubu has welcomed the planned launch of the African Credit Rating Agency (AfCRA), describing it as a significant step towards building financial institutions capable of&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":127099,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-129299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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