December 11, 2023

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The African Union aims to create its credit rating agency. Here’s why.

The African Union (AU) is planning to create its own sovereign credit rating agency. The move is aimed at reducing the continent’s reliance on foreign credit rating agencies, which have been criticized for their lack of understanding.

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In 2017, World Bank figures revealed that just under 43% of sub-Saharan Africans over 15 years old.