Nigerian President Bola Tinubu, at the ongoing African Union (AU) summit, at the ongoing African Union (AU) summit, reiterated his strong support for the establishment of an African-led credit rating agency (ACRA), emphasizing its potential role in ensuring fair and transparent credit evaluations for African nations.
President Tinubu remarked that an independent African rating agency would mitigate biases typically associated with existing global credit rating systems that often undermine the financial assessments of African economies.
“An independent African-led rating agency will help provide fairer assessments of African economies and reduce the bias often observed in existing global rating agencies,” he stated.
Commending collaborative efforts from the AU, the African Development Bank (AfDB), and the Specialised Technical Committee (STC) on Finance, President Tinubu highlighted the visionary leadership that has propelled the agenda of enhancing Africa’s financial landscape.
He underscored the importance of the Africa Financing Stability Mechanism (AFSM) as a vital framework to confront the numerous financial challenges facing the continent, including escalating borrowing costs, overwhelming debt, and limited access to long-term, affordable financing.
“The establishment of the AFSM underscores the collective commitment of member states in addressing financial vulnerabilities and fostering economic resilience across the continent,” Tinubu emphasized.
He added that the mechanism aims to support member states in aligning with their national development objectives while simultaneously generating economic opportunities for their citizens.
Reflecting on the advancements made during the 5th Extraordinary Session of the Specialized Technical Committee on Finance, held in Abuja, Nigeria, in November 2025, President Tinubu expressed satisfaction over the strategic decisions reached.
“The adoption of the AFSM by member states is expected to enhance financial stability, strengthen resilience against external shocks, and provide a more coordinated approach to managing financial risks across the continent.”
The call for an African credit rating agency comes as many countries across the continent seek to break free from financial dependency and build self-sustaining economies. As discussions at the AU summit progress, the expectation is that collaborative financial frameworks and mechanisms will emerge to drive Africa’s economic growth while curbing reliance on external credit validation.
President Tinubu’s message resonates with broader aspirations of African nations striving for economic independence while navigating a complex global financial landscape.
His advocacy sets the stage for future dialogues on empowering African economies through self-managed economic governance and equitable financial assessments.
