The long-term issuer rating of the African Solidarity Fund FSA has been raised from AA+ (WU) to AAA (WU) on its regional scale by the rating agency GCR Ratings (GCR). The short-term issuer rating is A1+ (WU), with a stable outlook

The FSA's rating benefits from the strength of its financial profile, characterized by an adequate level of capitalization and significant liquidity buffers. The memberships of Cape Verde, Comoros, Congo, Congo, Gambia, Liberia, the Gambia, Liberia, the Development Bank of Central African States (BDEAC) between 2022 and 2023, as well as those of Morocco and Sierra Leone in June 2024, strengthened the level of callable capital. In addition, the increase in the rating of the African Solidarity Fund (FSA) reflects the solidity of its financial profile and the significant progress made in its activity, materialized by the increase in the level of its interventions (+13%) and the expansion of its shareholder base. These performances more than make up for a portfolio quality that can still be improved, despite the consolidation efforts made in 2023

The perspective attached to the rating is justified by the fact that capitalization should remain at an adequate level thanks to an expected release of capital in the next 12 to 18 months.