President Bola Tinubu. Photo credit: File
President Bola Tinubu has welcomed the African Union’s announcement that the African Credit Rating Agency will officially launch on October 7 in Port Louis, Mauritius.
Tinubu stated this in a post on his official X account on Thursday, describing it as another step towards building financial institutions that better understand African economies and risks.
The President said he made the case for such an institution in a February 2026 article published by the Financial Times and reiterated the need for Africa to develop its own financial institutions at the Africa CEO Forum in Kigali, Rwanda, in May.
Tinubu said the proposed agency would provide an alternative assessment of African economies, stressing that the continent was not seeking preferential treatment but fairer evaluations based on its economic fundamentals and ongoing reforms.
