24 September 2025 – New York, USA – The African Peer Review Mechanism (APRM) has announced a major milestone in Africa’s journey toward financial independence and reform of the global credit rating landscape. Speaking at the conclusion of a high-level panel discussion held on 23 September 2025 at the Permanent Observer Mission of the African Union to the United Nations in New York, APRM Chief Executive Officer, H.E. Amb. Marie-Antoinette Rose-Quatre, confirmed that the Republic of Mauritius has been officially selected as the primary jurisdiction and host of the headquarters for the Africa Credit Rating Agency (AfCRA).
The event, titled “Reconfiguring Global Credit Rating Practices: African Perspectives on Reforming the Financial Architecture”, brought together African leaders, international partners, and experts to discuss systemic reforms needed to create a more equitable global financial system.
“Africa is no longer content to be a passive observer in this discourse,” said Amb. Rose-Quatre. “We are taking ownership of our narrative and driving forward meaningful, homegrown solutions.”
Amb. Rose-Quatre announced that following a comprehensive and competitive bidding process, administered through an independent transaction adviser, the Republic of Mauritius has been selected as the primary jurisdiction for AfCRA’s registration and will host the agency’s head office. The process of registering AfCRA and securing its license to issue credit ratings is currently underway through the Financial Services Commission of Mauritius. In parallel, the APRM is evaluating other jurisdictions across the continent that will serve as hosts for AfCRA’s regional subsidiaries, ensuring a truly pan-African presence. By the end of 2025, AfCRA is expected to have a fully established headquarters, a robust shareholding base, and a strong management structure in place, with preparations well advanced for the agency to issue its first credit ratings in 2026. The full operationalisation of AfCRA is scheduled for the second quarter of 2026, at which point additional strategic milestones will be unveiled.
AfCRA is envisioned as a complementary institution to existing global credit rating agencies, with a mandate to deliver fair, independent, and contextually accurate assessments of African economies. It seeks to correct systemic biases and outdated methodologies that have historically disadvantaged African nations in global financial markets.
“AfCRA is not just about Africa. It is about contributing to a more balanced, inclusive, and equitable global financial architecture,” Amb. Rose-Quatre emphasized.
The CEO also confirmed that she had recently briefed the Chairperson of the African Union Commission and will soon address the Ministers of Finance and Economic Planning at the upcoming 8th Specialised Technical Committee in South Africa, to further outline the road to full operationalisation.
Amb. Rose-Quatre expressed appreciation to the event’s co-conveners and strategic partners who have played an instrumental role in supporting AfCRA’s development. Special recognition was given to Afreximbank, Open Society Foundations, United Nations Economic Commission for Africa, United Nations Development Programme, AfriCatalyst, and Africa Centre for Economic Transformation.
With its operationalisation now in motion, AfCRA represents a historic step forward in Africa’s efforts to build financial sovereignty and address structural challenges impacting the continent’s cost of capital.
“AfCRA has moved beyond deliberations and is now a tangible reality,” concluded Amb. Rose-Quatre. “It is an institution born in our lifetime to affirm Africa’s role in shaping the global financial system.
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