The Africa Migration Report is a joint report of the African Union Commission (AUC) and the International Organization for Migration (IOM). The first edition was published in 2020. The second edition (AMR II), just released, notes that the high mobility of African population is a cultural behavior that is deeply rooted in ancient nomadic activities and practices, justified by economic reasons, that still today are widespread in the continent. The main ones are indicated in pastoralism and small-scale cross-border trade, where huge masses of people every day crisscross borders in search of trading opportunities (profiting from the price differentials among African countries due to different application of customs duties and taxes on traded goods) or of pasture for their livestock. These activities and practices, the report notes, have been exacerbated by conflicts and climate change, which push entire communities to continually move from one territory to another in search of opportunities capable of guaranteeing a livelihood for themselves and their families.

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During the 6th Ordinary Session of the African Union’s Specialized Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration (STC-FMAEPI) held from 20 to 21 July 2023 in Nairobi, Kenya, the Committee adopted a declaration to initiate works for the establishment of a private sector-driven African Credit rating Agency based on self-funding and sustaining. STCs are Committees of Ministers or senior officials that work in close collaboration with the various Departments of the African Union (AU) Commission, providing inputs to support the work of the AU Executive Council (a body that, in turns, works in support of the AU Assembly), with regard to thematic areas that fall within their areas of competence. The criteria and the roadmap for the establishment of the African Credit Rating Agency (ACRA) have been discussed by the African Peer Review Mechanism (APRM) and the United Nations Economic Commission for Africa (UNECA) in a two-day retreat in Lusaka, Zambia, that started yesterday, 27 March, and ended today. This represents a very first step in the direction in the establishment of such Agency.

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