The Cabinet meeting of 5 September took note that 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.
An initiative of the African Union Executive Council Decision, it is designed to set up a private sector-led, independent, and self-sustaining African credit rating agency viewed as potentially biased in the eyes of African policy makers.
The AfCRA, as part of its objectives, is expected to deliver accurate credit assessment that reflects African realities, in contrast to traditional global rating agencies such as ratings, Moody’s and S&P.
The designation of Mauritius as the host country for AfCRA constitutes a major milestone in reinforcing the jurisdiction as a continental leader in financial governance and innovation.
It also reinforces the credibility of Mauritius as a trusted international financial centre, adhering to set forth African priorities through transparency, regulatory soundness, and professional excellence. The fact that AfCRA is headquartered in Mauritius implies that the jurisdiction will serve as a focal point for promoting investor confidence, fostering intra-African financial flows, and deepening local capital markets spanning across Africa.
The African Peer Review Mechanism (APRM) poses as an autonomous entity of the African Union with the mandate to help facilitate the setting up of AfCRA. The APRM Secretariat has in June 2025 invited interested AU Member States to submit an Expression of Interest (EOI) stressing upon the country’s competitiveness in posing as a primary jurisdiction for the registration of the AfCRA. It also seeks to encourage the 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.
As part of ongoing efforts to promote the Africa Strategy for the Financial Services sector to make the Mauritius International Financial Centre (IFC) a pivotal platform in the region, the Ministry of Financial Services and Economic Planning submitted an EOI on June 30, 2025, to host the Africa Credit Agency in Mauritius.
CEO of the APRM Continental Secretariat, Ambassador Marie-Antoinette Rose-Quatre, has informed that as a result of a competitiveness and transparent evaluation process in considering proposals from several African Union States by an Advisory Committee, Mauritius has emerged as the top candidate.
Minister of Financial Services and Economic Planning Dr. Jyoti Jeetun has hailed “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 constitutes 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 Financial Centre. It encompasses:
- enhancing 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 African continent
- attracts a wider range of investors, including institutional investors who often require rated securities
- employment of local staff
