By Prince Osuagwu,

The deployment of cutting-edge technology and customer-centric approach in financial management have combined to give Nigeria’s frontline Microfinance bank, FairMoney improved credit rating by Global Credit Rating, GCR.

Registered as MyCredit Investments Limited, FairMoney said it has not only used cutting edge technology solutions to  provide innovative financial solutions to individuals and small businesses in Nigeria, but to push itself to the top of the leadership cadre, where it is revolutionising the way Nigerians access credit.

Now, the same method has seen it rise in the estimation of the global rating body.

According to GCR, FairMoney’s long-term rating rose from BBB(NG) to BBB+(NG) and short-term rating jumped from A3(NG) to A2(NG),

The financial company said it saw the upgrade as  a testament to its unwavering commitment to excellence, adding that with this stable outlook, it is poised to continue driving impressive growth trajectory in the sector.

FairMoney’s operating revenue for 2024 financial year soared to N 112.3 billion, with net interest margin, NIM of 82.9 percent. Managing Director, FairMoney, Henry Obiekea said the company’s advanced technology, operational efficiency, and disciplined risk management were key drivers of this success

According to him, “FairMoney’s disciplined approach to risk management, and our ability to consistently manage portfolio credit risk downwards without hurting margins are key factors keeping us above margin.”