(No. B/779) Mr R. Etwareea (Third Member for Grand’ Baie & Poudre D'or) asked the Prime Minister, Minister of Defence, Home Affairs and External Communications, Minister of Finance, Minister for Rodrigues and Outer Islands whether, in regard to the initiative taken by the African Union to launch an African rating agency in September 2025, he will state if he proposes to support same. The Minister of Foreign Affairs, Regional Integration and International Trade (Mr D. Ramful): Thank you, Mr Deputy Speaker, Sir. At the outset, I wish to inform the House that the Government of Mauritius fully supports the initiatives taken by the African Union to launch an African Credit Rating Agency. In fact, the 28th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) held in January 2017 in Addis Ababa adopted a decision directing the African Peer Review Mechanism which is a specialised governance entity of the African Union to provide support to African Union Member States in the field of rating agencies. Consequently, the 6th Ordinary Session of the African Union Specialized Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration, ministerial meeting held in July 2023 in Nairobi, Kenya, adopted a Declaration endorsing the establishment of a private sector driven Africa Credit rating Agency based on self-funding. 84 The establishment of the Africa Credit Rating Agency represents a pivotal initiative which aims at enhancing financial transparency, credibility and investment attractiveness across the African continent. Realising the critical role of reliable credit ratings in fostering economic growth and stability, the Africa Credit Rating Agency seeks to provide independent assessments of credit worthiness tailored for African markets. Mr Deputy Speaker, Sir, on 09 June 2025, the Mauritian Ambassy in Addis Abeba, transmitted a note verbale from the APRM Continental Secretariat inter alia inviting interested African Union Member States to submit an Expression of Interest by the deadline of 30 June 2025, on country competitiveness as a primary jurisdiction for the registration of Africa Credit Rating Agency. The Continental Secretariat of the APRM also encouraged African Union Member States to inform Credit Rating Agencies, operating in their respective countries, to formally expressed their interest for a joint investment for Africa Credit Rating Agency through a potential merger acquisition or technical partnership. On the basis of high level of consultations that I held with the Ministry of Finance and the Economic Development Board and pursuant to the call issued by the APRM, the Ministry of Financial Services and Economic Planning, submitted on behalf of the Government of Mauritius, on 30 June 2025, an Expression of Interest to host and register the Africa Credit Rating Agency as a primary jurisdiction in Mauritius. The Expression of Interest has been submitted to the Mauritius Commercial Bank Capital Markets, a subsidiary of the Mauritius Commercial Bank that has been appointed by the APRM as an independent transaction adviser to facilitate the establishment of the Africa Credit Rating Agency as an independent, credible and private sector-driven entity. Mr Deputy Speaker, Sir, the submission of Expression of Interest by Mauritius to host the Africa Credit Rating Agency is testimony of Government’s full commitment to enhance the visibility of the Mauritius International Financial Centre on the African continent. To conclude, in line with our shared commitment to the ideals, principles, and aspirations of the African Union, Mauritius thus fully support the establishment of the Africa Credit Rating