AfriCatalyst and The African Union’s African Peer Review Mechanism (APRM) Strengthen Partnership to Advance Africa’s Credit Rating and Development Finance Agenda

Abidjan, Côte d’Ivoire 21 July 2026 — As African countries look to strengthen creditworthiness and unlock affordable long-term capital, AfriCatalyst and the African Peer Review Mechanism (APRM) have formalized their partnership to advance sovereign credit ratings, capital market development, and access to development finance across the continent.

Signed on the margins of the African Union’s Joint Specialized Technical Committee meetings in Abidjan, the Memorandum of Understanding (MoU) establishes a framework for the two institutions to collaborate in supporting African Union Member States to strengthen their creditworthiness, engage more effectively with the international credit rating system, and develop stronger domestic financial markets.
The agreement advances the African Union’s mandate for the APRM to support Member States in implementing the AU Policy Framework on Supporting Member States in the Area of International Credit Ratings.

Highlighting the importance of the collaboration, H.E. Ambassador Marie-Antoinette Rose Quatre, Chief Executive Officer of the APRM Continental Secretariat, noted that:

“This partnership strengthens our collective efforts to ensure that sovereign credit ratings better support Africa’s development ambitions. By strengthening institutions, improving the quality and availability of data, and building more resilient domestic capital markets, African countries can enhance their creditworthiness and expand access to affordable long-term capital.”

Through the partnership, AfriCatalyst and APRM will convene policy dialogues, provide technical support to governments, undertake country missions, and co-host conferences that strengthen understanding of sovereign credit ratings and their implications for development. The two organisations will also contribute technical expertise to the establishment of the African Credit Rating Agency, support the development of local currency capital markets, and promote reforms that help African countries access capital on better terms.

Dr. Daouda Sembene, President and Chief Executive Officer of AfriCatalyst, described the partnership as an important step towards strengthening Africa’s credit rating ecosystem. He said:

“Improving Africa’s access to affordable capital requires more than stronger macroeconomic fundamentals. It requires stronger institutions, better data, deeper domestic capital markets, and constructive engagement on sovereign credit ratings. This partnership reflects our shared commitment to advancing African-led solutions that strengthen creditworthiness and expand access to sustainable development finance.”

The MoU will remain in force for an initial period of three years and will be implemented through jointly agreed programmes, designated technical focal points, and regular reviews to assess progress and identify new areas of collaboration.

By combining APRM’s continental mandate with AfriCatalyst’s technical expertise, the partnership reflects a shared commitment to strengthening sovereign creditworthiness, deepening domestic capital markets, and mobilizing the long-term investment needed to accelerate Africa’s sustainable economic transformation.