On 19 March 2026 the Founder and Executive Director of ACCORD, Dr Vasu Gounden, spoke at the Inaugural Public Lecture hosted by the African Peer Review Mechanism (APRM) in Pretoria, celebrating its 23rd Anniversary (APRM Day).
The lecture was titled “The Impact of Credit Ratings on AU Member States and the Urgent Need for the Operationalisation of the African Credit Ratings Agency (AfCRA)”. It was presented by Dr Misheck Mutize, APRM’s Lead Expert on Support to African Union Member States on Credit Ratings. Dr Gounden provided a message of solidarity, and served as one of four respondents to Dr Mutize’s presentation.
APRM Day commemorates the establishment of the APRM on 9 March 2003 and is observed annually in accordance with decisions of the African Union Assembly. The occasion provides an opportunity to reflect on the progress made in strengthening governance on the continent and to engage stakeholders on emerging priorities.
The event which was hosted in collaboration with the University of Pretoria’s Centre for Human Rights (CHR) and the Department of Public Service and Administration (DPSA) in South Africa, convened distinguished representatives from academia, policy institutions, and the diplomatic community.
The main objectives of the APRM Day Lecture were to raise awareness about the APRM, thereby increasing public understanding of its role and impact; encourage AU member states to support the policy frameworks necessary for the operationalization of the AfCRA; enhance awareness of the influence of global credit ratings on sovereign nations’ access to sustainable development financing; discuss concerns regarding access to international markets and perceived biases in global rating systems; reflect on Africa’s economic realities, reform efforts, and growth potential; contribute to achieving the AU’s development priorities and the SDGs; and build momentum for establishing the AfCRA as a credible continental alternative while promoting ownership of financial risk assessment and strengthening Africa’s voice in the global financial architecture.
The expected outcomes of the APRM Day Lecture included heightened awareness and deeper understanding among policymakers, researchers, and stakeholders of how credit ratings affect development financing. Additionally, it aimed to foster broader consensus on the need for reforms to the global credit rating ecosystem and to advocate stronger political backing and momentum for the operational rollout of the AfCRA by AU member states through their ministries of finance, central banks, and debt management offices.
