President Bola Tinubu on Thursday, said he welcome the African Union’s announcement that the African Credit Rating Agency (AfCRA) will officially launch on October 7. @_AfricanUnion The President who is currently on a three weeks holiday in Europe revealed this on his official Xhandle, formerly Twitter, @PBAT, on Thursday Tinubu recalled how in February, 2026, he had 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.” According to him, ” Africa 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.” He noted that “AfCRA must now earn the confidence of global capital. That confidence will rest on its independence and the rigour of its work.