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National News

The Economic Times

National / The Economic Times

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No Fitch, Moody's or S&P, please: The Big 3 face a new challenge

The African Union established the Africa Credit Rating Agency to provide better assessments for African economies. This initiative aims to address global rating agencies' perceived biases and shortcomings. Credit ratings for African nations currently suffer from a significant information gap compared to other regions. The new agency could enhance local capital markets by focusing on domestic debt markets and investments.

9 Oct 2026 9:28 pm