A new credit rating agency, the African Credit Rating Agency (AfCRA), is being established to provide an alternative to Western-dominated credit rating institutions. Endorsed by African leaders in 2018, AfCRA aims to assess the creditworthiness of governments, banks, and companies across the continent. The agency will be based in Mauritius and operate independently, offering a localized perspective on African financial risk. This initiative seeks to reduce reliance on international rating agencies, which have often been criticized for biased assessments and hindering Africa’s access to capital. AfCRA’s launch represents a significant step towards greater financial autonomy for African nations and businesses. The agency hopes to foster more accurate and nuanced evaluations of credit risk within the African economic landscape.