A thought-provoking new Op-ed by Dr Ntokozo Mahlangu, member of the Strategic Advisory Board at The DaVinci Institute, reflects on the launch of the African Credit Ratings Association (Acra) and what it means for Africa’s position in global capital markets. Writing at a time when African sovereign and corporate debt exceeds $1 trillion and the price of risk is increasingly sensitive to perception, Dr Mahlangu argues that credit ratings have become a decisive factor in shaping the continent’s economic future.
From Being Rated to Participating in Rating
In his article, “Africa is rating itself through building an institutional voice in global capital markets,” he explores how Acra represents more than a new institution. It signals a shift from Africa being merely assessed by global agencies to actively participating in how risk, value, and opportunity are understood and priced in international markets.
Strengthening Governance and Credibility
He notes that while international rating agencies operate with established and rigorous frameworks, these models were largely developed in advanced economies and do not always fully reflect African economic realities. By contributing local expertise, contextual understanding, and stronger data practices, an African-led ratings initiative has the potential to strengthen governance, transparency, and the credibility of financial reporting across the continent.
Rewriting Africa’s Financial Narrative
Ultimately, his piece highlights that institution-building in finance is not about symbolism, but about shaping fairer, more accurate, and more sustainable pathways for development. Africa, he suggests, is beginning to move from being narrated by global markets to helping write its own financial story. Read the full article on Business Day: Africa is rating itself through building an institutional voice in global capital markets