Tinubu speaks on Africa’s new credit rating agency
“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,” says President Bola Tinubu. The post Tinubu speaks on Africa’s new credit rating agency appeared first on Premium Times Nigeria .
President Bola Tinubu has endorsed the planned launch of the African Credit Rating Agency (AfCRA) in October, 2026, stating it represents another stride towards establishing African financial institutions that can accurately gauge the continent's economies and risks. In a message on his official X account, Tinubu said, "AfCRA is another step towards that goal."
He pointed out that in February, 2026, he advocated for an African credit rating agency in the Financial Times and reiterated this demand at the Africa CEO Forum in Kigali, Rwanda in May. Tinubu emphasized that Africa seeks balanced evaluations from credit rating institutions, not preferential treatment. He said, "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." Tinubu also stressed that AfCRA must gain the trust of global capital through its independence and the rigor of its assessments. He expressed confidence in the initiative, looking forward to its official inauguration on October 7, 2026.
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- Tinubu Backs October Launch Of African Credit Rating Agency thisdaylive.com
