VICTORIA, Seychelles, September 23: Head of State in Seychelles, Dr Patrick Herminie, and CEO of APRM Marie Antoinette Rose Quatre held bilateral talks focusing on buttressing Africa’s financial independence, improving governance and harnessing technology on the sidelines of the 81st Session of the United Nations General Assembly in New York.
The CEO of the APRM briefed President Herminie on the progress undertaken and on paving the way for the official launch of Africa Credit Rating Agency (AfCRA), set for October 7 in Mauritius. She explained that the initiative has been developed as an independent, private-sector-driven entity, with the aim of lending an African perspective on the assessment of sovereign and corporate creditworthiness.
Lead Expert on Credit Ratings at the APRM, Dr Misheck Mutize underlined that the initiative forms part of a broader effort to ensure that African capital is more effectively directed towards productive investment on the continent. He highlighted the significant pool of African capital held through sovereign wealth funds, pension funds and asset management institutions, poised at around USD4 trillion, and noted that much of this capital is currently invested outside Africa.
According to Dr Mutize, Africa Ratings aims to undertake efforts to make more African capital work within the continent, supporting investment in sectors such as healthcare, energy, mining and infrastructure. He also highlighted the importance of developing African-led approaches to credit assessment alongside the existing international credit rating agencies.
The discussions also hovered on the APRM’s evolving role in supporting member states to strengthen their economic and governance systems. This includes helping countries improve the quality of statistics, institutional capacity, regulatory frameworks, financial systems and the overall environment for doing business, with the aim of strengthening their ability to access international capital and investment.
President Herminie was also briefed on the APRM’s work across areas such as e-governance, artificial intelligence and digital transformation, which adheres to his commitment to advance digital governance. The APRM proposed that Seychelles host a continental chapter of its e-governance initiative in 2027, bringing together government representatives, the private sector and technology leaders to discuss practical approaches to managing emerging technologies and using digital tools to strengthen human capital and public services.
Looking ahead, the APRM also discussed opportunities for Seychelles to host and participate in more of its continental initiatives, particularly those bringing government and the private sector together. The proposed 2027 continental chapter would create a space for business leaders, financial institutions, technology experts and government representatives to have practical discussions on investment, regulation, governance and the use of technology, with Seychelles providing a platform for these conversations.
