African Union to launch African credit rating agency in October, adviser says 

Paul Sikazwe, technical adviser on debt to the African Union Commission, said the ratings agency created for Africa will be launched in ​Mauritius on October 5.

The African Peer Review Mechanism (APRM) - an African Union-backed initiative - will launch a continent-wide credit ratings agency in October, a senior adviser ​at the AU said on Wednesday, as it seeks ‌to tackle high borrowing costs.

The AU is also forging ahead with a push for common action on debt among its 54 member states, Sikazwe said, including the inauguration of an African Monetary Institute in Abuja in late October, which is designed to serve as a precursor to a regional central bank.