Africa launches own credit agency in bid for cheaper borrowing
Africa will launch its own credit rating agency on Wednesday, aimed at countering what many see as unfair assessments by global institutions that make it more expensive for African nations to borrow money.
Analysts say the first test is whether the agency will downgrade an African government.
The Africa Credit Ratings Agency (AfCRA), backed by the African Union after nearly a decade of talks, will judge the creditworthiness of countries, businesses and institutions.
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