TINUBU BACKS LAUNCH OF AFRICAN CREDIT RATING AGENCY
By: Safiya Abdulrahim Dabban
President Bola Ahmed Tinubu has welcomed the planned launch of the African Credit Rating Agency (AfCRA) on October 7, describing it as a major step towards strengthening Africa’s financial independence.
In a statement, Tinubu said the agency would address the need for fair and objective assessments of African economies and their investment risks.
He stressed that African countries are not seeking favourable treatment but accurate ratings based on their economic performance and reforms.
The President said the success of AfCRA and its ability to attract global investment would depend on its independence, credibility and strong analytical standards.
The development follows Tinubu’s earlier call for an indigenous credit rating agency for Africa.