FairMoney Receives Upgraded Credit Ratings as Revenue Surges in Nigeria
FairMoney in Nigeria has achieved an upgraded credit rating from GCR, with revenue hitting ₦112.3 billion in FY 2024. The ratings reflect sustained improvements in the Nigerian microfinance sector and FairMoney's strong competitive position driven by scale, advanced technology, and operational efficiency.
The company's robust earnings, strong cash flow generation, and flexible fund structure have supported its growth. FairMoney's director, Henri Obiekea, highlighted the institution's disciplined credit risk strategy and strong performance in the micro-lending market.
The stable outlook anticipates further strengthening of portfolio quality and market share diversification in the coming months.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
Read full article
Continue on News Online Nigeria
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Related Stories
FairMoney Launches FlexiCredit for Nigerian Professionals, Offering Instant Access to ₦5M Credit Line
FairMoney Empowers Nigerian Entrepreneurs with Digital Banking Services
FairMoney Launches FlexiCredit Premium for Nigerian Professionals
FairMoney Launches FlexiCredit Loan Product for Nigerian Professionals
Fairmonei Microfin Bank Expands Services to Boost Financial Inclusion in Nigeria's Fintech Sector
FCCPC Sets Deadline for Nigerian Lending Apps to Comply With New Rules
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
