The African Union (AU) has launched the Africa Credit Rating Agency (AfCRA), the continent's first credit rating agency, as African countries seek alternatives to established global ratings firms amid mounting debt pressures. The agency was unveiled on Wednesday in Port Louis, the capital of Mauritius, where it will be headquartered. African leaders endorsed its creation in 2018. Denys Denya, executive vice president of Afreximbank, one of the agency's backers, said AfCRA would provide investors with additional information and context to assess African investment risks. “When lenders don’t see clearly, they charge for...