NewzKenyan President William Ruto announced that the newly established African Credit Rating Agency (AfCRA), backed by the African Union, represents a historic milestone aimed at bolstering the continent's financial sovereignty.
The statement was made in Nairobi on October 12, as leaders move forward with the initiative to establish independent credit assessment mechanisms for African nations.
The agency is intended to address long-standing concerns regarding how international rating agencies evaluate African economies, potentially offering more accurate risk assessments and reducing borrowing costs across the continent.
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