President William Ruto has strongly advocated for the African Credit Rating Agency (AfCRA) at TICAD 9, asserting it will correct inherent biases in the global financial system that unfairly penalize African economies. He emphasized that current international credit rating frameworks often overlook Africa’s unique economic realities, leading to higher borrowing costs and restricted access to affordable financing.

• President Ruto stated that only 18 per cent of Africa’s exports are traded within the continent.
• The African Credit Rating Agency (AfCRA) is a new, privately-owned initiative designed to provide independent credit ratings for African entities.
• The African Union previously faulted Moody's for its revision of Kenya’s credit rating outlook in January.