Africa

Africa has taken a landmark step toward financial independence with the launch of PAPSSCARD, the continent’s first Pan-African card payment scheme.

Despite macroeconomic headwinds, African startups continued to draw strong investor interest in May 2025, with Egypt taking a dominant lead in deal volume and value.

The African Credit Rating Agency (AfCRA), a privately owned financial rating body, is expected to begin operations by September 2025. The agency will provide credit ratings tailored to the continent’s specific needs, addressing long-standing criticism of the methodologies used by major international rating firms.

Fitch Ratings has downgraded African Export-Import Bank's (Afreximbank) Long-Term Issuer Default Rating (IDR) to 'BBB-' from 'BBB'. The Outlook is Negative.