Nigerian fintech company FairMoney (MyCredit Investments Limited) has received a credit rating upgrade from Global Credit Ratings (GCR), one of Africa’s leading rating agencies. Its long-term rating rose from BBB(NG) to BBB+(NG), while its short-term rating was upgraded from A3(NG) to A2(NG). The agency maintained a Stable Outlook, reflecting confidence in the company’s strong financial position and its ability to sustain growth in a competitive microfinance sector.
The upgrade highlights FairMoney’s consistent financial performance, strong cash flow generation, and operational efficiency. The fintech reported operating revenue of ₦112.3 billion in the 2024 fiscal year, underlining its position as one of the top earners in Nigeria’s microlending industry. Analysts at GCR noted that the company’s flexible funding structure and support from its parent company, Predictus SAS, have strengthened its overall credit profile.
FairMoney has continued to leverage proprietary technology and high transaction volumes to expand access to financial services across Nigeria. The company processes over 10,000 loan requests daily, serving a growing customer base and maintaining disciplined credit risk management without compromising profitability. In addition to microlending, FairMoney has diversified its offerings to include loans for small and medium-sized businesses, reflecting its commitment to broadening financial inclusion.
According to the company’s Nigerian director, Henry Obiekea, FairMoney has consistently managed portfolio credit risk over the past three years while maintaining healthy margins. The fintech’s strong brand recognition, technological infrastructure, and customer-focused approach have contributed to its dominant position in the market.
The Stable Outlook from GCR signals that the company is expected to further improve portfolio quality, expand market share, and diversify revenue streams over the next 12 to 18 months. The rating agency also noted that FairMoney’s ongoing use of internal and external data for better risk assessment, as well as its gradual entry into secured lending, are likely to support sustainable growth amid a more stable macroeconomic environment.
With this upgrade, FairMoney reaffirms its leadership in Nigeria’s microlending sector and strengthens investor confidence in its ability to deliver consistent returns while promoting financial access across the country.
