Namibia welcomes AfCRA as a Step toward Africa’s Financial Sovereignty

Namibian President Her Excellency Nandi-Ndaitwah has welcomed the establishment of the Africa Credit Rating Agency (AfCRA), describing it as an important step toward Africa taking greater ownership of its development and prosperity agenda.

Addressing the 81st session of the United Nations General Assembly in New York City, President Nandi-Ndaitwah said the initiative represents meaningful progress in Africa’s push to reform the international financial architecture.

AfCRA is scheduled to launch in Port Louis, Mauritius, on 7 October 2026, where the African Union mandated institution is intended to provide independent, Africa-focused assessments of the creditworthiness of African sovereigns, businesses and institutions. The President characterized the agency as a vital building block in the continent’s efforts to strengthen its financial sovereignty and ensure that Africa’s economic realities, resilience and potential are more fairly reflected in global financial markets. President Nandi-Ndaitwah’s endorsement underscores the importance of continental solidarity and collective action in advancing Africa’s economic interests. Her remarks highlight a wider African call for a more equitable international financial system that provides the continent with a fairer level playing field and supports sustainable development through more balanced assessments of risk and opportunity. AfCRA reflects African countries’ broader efforts to strengthen financial institutions, improve economic governance and play a more active role in shaping the international financial system.