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.