Mauritius to Host Africa Credit Rating Agency Headquarters as Continent Pushes for Sovereign Rating Independence

The African Peer Review Mechanism (APRM) confirmed that Mauritius has been selected as the primary jurisdiction and host of the AfCRA headquarters.

It was confirmed at the conclusion of a high-level Africa Credit Rating Agency (AfCRA) discussion held during the 80th session of the United Nations General Assembly (UNGA80) in New York.

APRM Chief Executive Officer, Amb. Marie-Antoinette Rose-Quatre, announced the decision, noting that Mauritius was chosen following a competitive bidding process overseen by an independent transaction adviser.

By late 2025, AfCRA is expected to have its headquarters fully established, supported by a robust shareholding structure and a strong management team.

The agency aims to issue its first credit ratings in 2026, with full operationalization set for Q2 2026, when additional strategic milestones will be unveiled.

The creation of AfCRA comes at a time when African leaders and policymakers have intensified calls for an independent rating institution.

Metropol Group Managing Director Sam Omukoko said the AfCRA will work with local rating agencies among them Metropol Credit Rating Agency, Agusto, GCR among others “that better reflects the realities of African economies.”

Critics have long argued that global rating agencies often apply inconsistent or unfair assessments, resulting in higher borrowing costs for African states.

Also Read: African Union Faults Moody’s Over Kenya’s Credit Rating Revision

In August 2025, S&P Global upgraded Kenya’s sovereign credit rating from B- to B (Stable), citing reduced external liquidity pressures, improved monetary policy, stronger economic performance, and rising foreign exchange reserves.

The move sharply contrasted with Moody’s Ratings, which just a month earlier warned that Kenya’s FX reserves were “under threat.”

Moody’s has also been criticized for erratic shifts, having downgraded Kenya to Caa1 (Negative) in July 2024 before reversing to Caa1 (Positive) in January 2025, skipping the standard “Stable” step.

The APRM has described such abrupt rating swings as “errors in judgment” that undermine the credibility of sovereign credit assessments.

With Mauritius now confirmed as the home of AfCRA, African policymakers are optimistic that the agency will bring a more balanced and contextually accurate perspective to credit ratings on the continent, while enhancing Africa’s credibility in the global financial system.