President William Ruto has announced plans to have Nairobi host a secondary jurisdiction of the newly launched Africa Credit Rating Agency (AfCRA) as Kenya seeks a greater role in the continent’s financial sector.
Ruto said Kenya would begin discussions on the proposed arrangement and explore becoming a sovereign client of the agency, which was officially launched in Port Louis, Mauritius, on October 7, 2026.
In a congratulatory message shared on social media, the President said the agency would help African countries strengthen their financial independence and improve how their economies are assessed by investors.
“Kenya is pleased to welcome AfCRA and to commence discussions on Nairobi serving as a secondary jurisdiction for the agency, as well as on Kenya becoming a sovereign client of this important continental institution,” he said.
The proposal comes as African governments seek ways to address concerns over the cost of borrowing and the assessment of their creditworthiness by international financial institutions.
AfCRA was established under an African Union initiative to provide independent credit assessments based on African data, expertise and economic conditions. It is expected to complement existing international rating agencies rather than replace them.
Ruto, who serves as the African Union Champion for Institutional Reform, said the launch marked an important step towards giving African countries a greater say in how their economies are assessed.
“I have consistently championed the reform of the global financial architecture, fair and credible assessment of African risk, and the establishment of AfCRA as an African-led institution capable of reflecting the continent’s true economic realities and potential,” he said.
The African Union has said the agency will provide additional analysis of African governments, businesses and institutions, helping investors make better-informed decisions.
However, its impact on borrowing costs will depend on whether investors and financial institutions trust and adopt its ratings.
The United Nations Economic Commission for Africa has also stressed that the agency must maintain its independence, transparent methodologies and technical credibility to gain market confidence.
Ruto said African leaders must support the institution while protecting its independence and professionalism.
“African leaders must place their full weight behind AfCRA’s success while safeguarding its independence, professionalism and methodological integrity,” he said.
The President added that global markets were being reshaped by geopolitical competition, volatile capital flows, the energy transition and artificial intelligence, making it necessary for Africa to develop institutions that reflect its economic realities and development priorities.
The proposed Nairobi arrangement is still at the discussion stage. Mauritius has been designated as AfCRA’s primary jurisdiction, while African Union decisions provide for other interested countries to seek consideration as secondary jurisdictions.
If the talks progress, Nairobi could secure a role in the agency’s regional operations, while Kenya’s proposed status as a sovereign client would allow it to explore credit assessments from the African-led institution.
