Addis Ababa, Ehiopia (PANA) - African Heads of State and Government are set to convene for a Presidential Dialogue on the establishment of an Africa Credit Rating Agency on 14 February 2025.
Facilitated by the African Peer Review Mechanism (APRM), the event will also bring together policymakers, financial experts, and development partners to deliberate on the operationalisation of a dedicated credit rating agency for the continent, a press release by the African Union (AU) said.
It said the event to be held on the margins of the 37th AU Ordinary Summit at the African Union Headquarters, “underscores Africa’s commitment to enhancing the continent’s financial sovereignty and addressing long-standing challenges associated with the three international credit rating agencies”.
The press release said the establishment of an Africa Credit Rating Agency “aims to provide fair, transparent and development-focused credit ratings that reflect the realities and potential of African economies”.
Key objectives of the meeting include reaffirming the political will and collective commitment towards AfCRA’s establishment; discussing the progress of the ongoing technical work; outlining the role of AfCRA in supporting Africa’s financial stability and growth; and exploring avenues for collaborative partnerships with development partners and international financial institutions.
-0- PANA MA 9Feb2025
