Mauritius designated as the Primary Jurisdiction for the Headquarters of the Africa Credit Rating Agency (AfCRA)

The Ministry of Financial Services and Economic Planning is pleased to announce that the Republic of Mauritius has been officially designated as the Primary Jurisdiction for the Headquarters of the Africa Credit Rating Agency (AfCRA) by the African Peer Review Mechanism (APRM).

The initiative stems from an African Union (AU) Executive Council Decision in July 2024 aimed at establishing a private sector-led, independent and self-sustaining African credit rating agency. The AfCRA is expected to deliver credit assessments that more accurately reflect African economic realities, in contrast to traditional global rating agencies. The motivation for an African credit rating agency is to provide financial assessments that more accurately reflect the continent’s diverse and dynamic economic realities, moving beyond ratings by the international ratings agencies (Fitch Ratings, Moody’s and S&P) which African policy makers view as potentially biased.

The African Peer Review Mechanism (APRM) is an autonomous entity of the African Union (AU) that has been mandated to facilitate the establishment of the AfCRA. In June 2025, the APRM Secretariat invited interested African Union Member States to submit an Expression of Interest (EOI) highlighting the competitiveness of the country as a primary jurisdiction for registration of the AfCRA. It also encouraged the African Union (AU) Member States to inform credit rating agencies operating in their countries to formally express their interest for a joint investment with AfCRA through a potential merger, acquisition or technical partnership.

APRM undertook an independent selection process for determination of the primary jurisdiction for registration of AfCRA to ensure that the agency is established to warrant operational independence and credibility, taking into account the country’s characteristics and aspects, namely, political stability, institutional and legal framework, protection of private enterprise, human capital and technical expertise, as well as critical infrastructure.

In line with the Africa Strategy for the Financial Services Sector and with a view to making the Mauritius International Financial Centre (IFC) a pivotal platform in the region, the Ministry of Financial Services and Economic Planning submitted an Expression of Interest on 30 June 2025 to host the Africa Credit Rating Agency in Mauritius.

The CEO of the APRM Continental Secretariat, Ambassador Marie-Antoinette Rose Quatre has now formally informed that following a competitive and transparent evaluation process that considered proposals from several African Union States by an Advisory Committee, Mauritius emerged as the top candidate. Our submission demonstrated outstanding commitment, strategic alignment with the AfCRA’s objectives and a strong enabling environment that meets the agency’s operational and developmental needs. The APRM letter commends Mauritius’ outstanding proposal, alignment with AfCRA’s long-term vision, and its enabling environment to support the operational and developmental requirements of the agency.

In a statement, the Minister of Financial Services and Economic Planning Dr Jyoti Jeetun commends “this historic designation which is a strategic win for the nation and the financial services sector. The designation of Mauritius as the host country for AfCRA is a major milestone that reinforces our standing as a continental leader in financial governance and innovation. Moreover, hosting the AfCRA in Mauritius brings along strategic benefits to the Mauritius International Financial Centre, more notably:

• enhances the international and regional visibility of the Mauritius IFC, • reaffirms our credibility as a trusted International Financial Centre; • enables local businesses to have their credit ratings effected at a lower cost;
• increases access to capital;
• commits to advancing African priorities through transparency, regulatory soundness, and professional excellence;
• increases investor confidence, facilitating intra-African financial flows, and deepening local capital markets across the African continent;
• attracts a wider range of investors, including institutional investors who often require rated securities;
• employment of local staff;
• capacity building and knowledge transfer; and
• attracting talents to Mauritius.”

In addition to these positioning advantages, the hosting of AfCRA will bring tangible socio-economic benefits. It is expected to generate new opportunities in credit analysis, financial research, and institutional development- sectors that require a highly skilled workforce. This will contribute to employment creation, knowledge transfer, and capacity building within the financial ecosystem. Moreover, the presence of AfCRA is likely to attract a new wave of partnerships, talent, and investment that will further elevate Mauritius’ global profile as a future-ready, Africa-aligned financial hub.

7 September 2025 

Ministry of Financial Services and Economic Planning

Posted by Minority Voice on Sep 10 2025. Filed under Actualités, Economie, En Direct, Featured, Politique. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry