What happens when a business has the potential to grow, but investors cannot easily tell how much risk they are taking? Across Africa, this is more than a question of access to information. For many large and medium-sized businesses, gaps in credible credit information can make it harder to attract financing on terms that reflect their underlying risk. 

That challenge is putting renewed focus on Africa’s domestic credit-rating ecosystem. With local market knowledge and closer understanding of domestic businesses and economic conditions, domestic credit rating agencies can help bridge information gaps between companies, lenders and investors. Yet the market remains fragmented across jurisdictions, rating scales and methodologies.

Why Domestic Credit Ratings Matter

Against this backdrop, Mauritius is set to host a major development in Africa’s credit-rating landscape this October, with the launch of the African Credit Rating Agency (AfCRA) scheduled for 7 October 2026 in Port Louis.

The launch follows the 2nd Africa Annual Conference on Credit Ratings, scheduled for 5–6 October, which will bring together policymakers, financial institutions, credit rating agencies, investors, researchers and other stakeholders from across Africa and beyond. Convened by the African Peer Review Mechanism (APRM), in collaboration with the United Nations Economic Commission for Africa (UNECA) and other strategic partners, the conference will examine Africa’s credit-rating landscape and its implications for investment, financing and sustainable economic development.

A Broader Conversation 

The discussions will extend beyond the establishment of a new continental rating institution. On the margins of the conference, the United Nations Development Programme (UNDP) will convene a roundtable on “Strengthening Domestic Credit Rating Ecosystems to Unlock Corporate Investment in Africa.”

The focus is particularly relevant to the continent’s domestic capital markets. Domestic credit rating agencies provide market-specific knowledge and risk assessments that can help bridge information gaps between African businesses and potential investors. However, the domestic rating market remains fragmented, with agencies operating across different jurisdictions, rating scales and methodologies. The cost and information requirements associated with conventional ratings can also limit their accessibility to many African businesses. 

The UNDP roundtable will explore how credible corporate credit-risk assessment can be expanded across African markets without compromising analytical quality, independence or credibility. Participants will consider the data, indicators and evidence required to support useful assessments, as well as how technology, better data and common standards could reduce the cost of assessment and monitoring and improve the comparability and usability of credit-risk information.

Importantly, the conversation will also consider what happens after a credit assessment is produced: How can credible domestic credit information translate into greater investor and lender confidence?

From Assessment to Investment

The roundtable will bring together domestic and Africa-operating credit rating agencies, financial institutions, investors, securities exchanges, regulators, private-sector representatives, development partners, multilateral development banks and international financial institutions. The objective is to identify practical areas for collaboration and approaches that UNDP and its partners could test.

The initiative builds on UNDP’s Africa Credit Ratings Initiative (ACRI), launched in 2024 with support from the Government of Japan to strengthen African governments’ capacity to navigate sovereign credit-rating processes. Through technical assistance, advisory support, capacity building, a dedicated resource platform and a community of practice, more than 400 government officials across Africa have participated in ACRI activities since its launch.

The developments in Mauritius therefore raise a broader question for Africa’s financial markets: can stronger, more accessible domestic credit information help more African businesses become visible to investors and financial institutions? With the conference, UNDP roundtable and AfCRA launch taking place within the same week, Mauritius will provide a platform for stakeholders to examine how Africa assesses credit risk and how that information can better support business and investment decisions.