More than a score: AfCRA and the reclaiming of Africa’s credit narrative |19 December 2025

More than a score: AfCRA and the reclaiming of Africa’s credit narrative

With Africa moving to establish its own credit rating agency under the African Peer Review Mechanism, the conversation shifts from scores to context raising fundamental questions about how African risk is assessed, priced, and understood.

In much of the recent news coverage on Africa’s borrowing costs and investor confidence, the issue of sovereign credit ratings surfaced almost casually. The conclusion seemed pre-determined: markets have already made up their minds about Africa. Few questioned it. Credit ratings, after all, are often treated as technical facts, objective, neutral, and beyond challenge.

Gary A. Jupiter
Founder and Lead Consultant
Gary Jupiter Consultancy

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