CEO of the APRM, Marie Antoinette Rose Quatre, briefed President Herminie on the progress towards the official launch of Africa Credit Rating Agency (AfCRA), is expected to be launched on 7 October in Mauritius. She explained that the initiative has been developed as an independent, private-sector-driven entity, with the aim of providing an African perspective on the assessment of sovereign and corporate creditworthiness.
Dr Misheck Mutize, Lead Expert on Credit Ratings at the APRM, said the initiative forms part of a broader effort to ensure that African capital is more effectively directed towards productive investment on the continent. He highlighted the significant pool of African capital held through sovereign wealth funds, pension funds and asset management institutions, estimated at around US$4 trillion, and noted that much of this capital is currently invested outside Africa.
According to Dr Mutize, Africa Ratings is intended to contribute to efforts to keep more African capital working within Africa, supporting investment in sectors such as healthcare, energy, mining and infrastructure. He also highlighted the importance of developing African-led approaches to credit assessment alongside the existing international credit rating agencies.
The discussions further touched on the APRM’s evolving role in supporting member states to strengthen their economic and governance systems. This includes helping countries improve the quality of statistics, institutional capacity, regulatory frameworks, financial systems and the overall environment for doing business, with the aim of strengthening their ability to access international capital and investment.
President Herminie was also briefed on the APRM’s work in e-governance, artificial intelligence and digital transformation, areas which align with his commitment in his manifesto to advance digital governance. The APRM proposed that Seychelles host a continental chapter of its e-governance initiative in 2027, bringing together government representatives, the private sector and technology leaders to discuss practical approaches to managing emerging technologies and using digital tools to strengthen human capital and public services.
Looking ahead, the APRM also discussed opportunities for Seychelles to host and participate in more of its continental initiatives, particularly those bringing government and the private sector together. The proposed 2027 continental chapter would create a space for business leaders, financial institutions, technology experts and government representatives to have practical discussions on investment, regulation, governance and the use of technology, with Seychelles providing a platform for these conversations.
President Herminie welcomed the proposals and expressed appreciation for the APRM’s engagement with Seychelles, particularly in areas that support good governance, investment, technology and institutional development.
The Seychelles delegation included Minister for Foreign Affairs and the Diaspora Mr Barry Faure, the Permanent Representative of Seychelles to the United Nations and Ambassador to the United States, Ms Vivienne Fock Tave, and Chief of Staff Ms Jenifer Vel.
Distributed by APO Group on behalf of State House Seychelles.
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