Firm Receives Upgraded Credit Ratings from GCR

Emma Okonji

MyCredit Investments Limited also known as FairMoney, a leading microfinance bank in Nigeria, has announced that Global Credit Ratings (GCR), Africa’s leading credit rating agency, has upgraded its national scale issuer ratings. 

FairMoney’s long-term rating has been raised from BBB(NG) to BBB+(NG), while its short-term rating has been upgraded from A3(NG) to A2(NG). The outlook remains stable.

The upgrade reflects improvements in the Nigerian microfinance sector and reinforces FairMoney’s strong industry position, supported by its scale, advanced technology, and operational efficiency. 

Commenting on the upgraded rating, Director of FairMoney Nigeria, Henry Obiekea, said: “Over the last three years, we have consistently managed portfolio credit risk downwards without hurting margins. FairMoney’s position as a top earner in the micro-lending market is supported by high customer demand and high-volume loan disbursement. FairMoney has continued to diversify its offering, now offering loans to small and medium scale businesses.”