President Bola Ahmed Tinubu has urged the incoming African Credit Rating Agency (AfCRA) to prioritize independence and rigorous assessment to gain global investor confidence. Scheduled for launch on October 7, 2026, in Port Louis, Mauritius, the agency aims to provide fairer, context-driven credit assessments of African economies. The establishment of AfCRA reflects a strategic move by the African Union to challenge the dominance of global firms like Fitch, Moody’s, and S&P, and mitigate the high cost of capital often attributed to perceived rather than actual economic risk.