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The African Union on Wednesday officially launched in Port Louis, the capital of Mauritius, the continent's first credit rating agency—the African Credit Rating Agency (AfCRA), positioned as an alternative to the three major global rating agencies: Moody's, Standard & Poor's, and Fitch. Against the backdrop of many African countries being mired in debt pressures and the Western-dominated rating system being widely criticized for systematically undervaluing their creditworthiness, the move carrie