African Union launches homegrown credit rating agency to challenge Moody’s, S&P and Fitch
The Africa Credit Rating Agency (AfCRA) will be launched in Port Louis, Mauritius, where it will be headquartered. The project has been nearly a decade in the making, with the African Union pushing since 2017 to establish a homegrown alternative to the major international rating agencies
South Africa’s newest private credit fund plans to unlock $21 billion for small businesses
This financial initiative aims to address the persistent funding challenges faced by local businesses that struggle to secure traditional bank loans due to strict lending criteria and regulatory hurdles
MTN targets Nigeria’s $236 billion credit gap as its $500 billion MoMo business pushes into lending
The Johannesburg-based company is finalising the structural separation of its Nigerian and Ugandan fintech units, a key step required to complete a minority investment deal with Mastercard and open the door to other strategic buyers