African governments are to launch their own credit rating agency to challenge the dominance of the global 'big three'

From the Newshound archive · first published 7 October 2026.

The African Union is set to establish the continent's first credit rating agency, taking direct aim at Moody's, S&P and Fitch. African governments have long complained the major agencies apply harsher standards to African sovereign debt, pushing up borrowing costs. The new body is intended to offer an alternative assessment rooted in African economic realities.