{
  "id": 5485438,
  "title": "Tinubu Backs October Launch of African Credit Rating Agency",
  "url": "https://urgent.news/2026/09/04/tinubu-backs-october-launch-of-african-credit-rating-agency",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T03:52:37.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/09/04/tinubu-backs-october-launch-of-african-credit-rating-agency-2/"
  },
  "original_language": "en",
  "account": "President Bola Tinubu has voiced his backing for the planned launch of the African Credit Rating Agency (AfCRA) in October 2026, describing it as a new stride towards establishing African financial institutions equipped to evaluate the continent's economic standing and risks. Tinubu made this statement in a message on his official X handle (@OfficialABAT) on Thursday, following the African Union's announcement that AfCRA would commence operations on October 7.\n\nThe President recalled his arguments for the creation of an African credit rating agency in February 2026, when he expressed this view in The Financial Times, and reiterated his call at the Africa CEO Forum in Kigali, Rwanda in May. Tinubu stressed that Africa requires financial institutions that comprehend the continent's economic landscape and can accurately gauge its risks, considering its economic fundamentals and ongoing reforms.\n\nHe emphasized that Africa is not seeking preferential treatment from credit rating agencies but rather fair assessments that accurately represent the realities of its economies. Tinubu stated, \"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.\"\n\nFurthermore, Tinubu maintained that AfCRA must gain the confidence of global capital through its independence and the rigor of its assessments. He stated, \"AfCRA must now earn the confidence of global capital. That confidence will rest on its independence and the rigour of its work.\" The President expressed optimism about the initiative and looks forward to the agency's official launch on October 7, 2026.",
  "summary": "• Describes it as right step towards building financial institutions to assess continent’s economies and risks Deji Elumoye in Abuja President Bola Tinubu has lent his support for the October,",
  "key_points": [
    "President Bola Tinubu supports African Credit Rating Agency launch in October 2026.",
    "Tinubu advocated for AfCRA creation in February 2026 and May Africa CEO Forum.",
    "AfCRA must earn global capital confidence through independence and rigorous assessments."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}