FairMoney Receives Upgraded Credit Ratings from GCR After Strong 2024 Performance

FairMoney recorded ₦112.3 billion in operating revenue for FY 2024 and achieved a Net Interest Margin (NIM) of 82.9%.

LAGOS, NIGERIA – November 27, 2025

MyCredit Investments Limited (MIL), widely known as FairMoney, has received an upgraded national scale issuer rating from Global Credit Ratings (GCR), Africa’s leading credit rating agency. GCR raised FairMoney’s long-term rating from BBB(NG) to BBB+(NG) and its short-term rating from A3(NG) to A2(NG), maintaining a Stable Outlook.

Why GCR Upgraded FairMoney’s Rating

According to GCR, the improved rating reflects the growing stability of Nigeria’s microfinance sector and FairMoney’s solid position within it. The agency highlighted:

• Strong and consistent earnings
• Robust cash flow generation
• Efficient operational structure
• Flexible funding supported by its parent company, Predictus SAS
• Advanced proprietary technology and high transaction volumes

FairMoney reported ₦112.3 billion in operating revenue for FY 2024, showcasing continued growth and market dominance in Nigeria’s digital lending ecosystem.

FairMoney’s Leadership Comments

Henry Obiekea, Director of FairMoney Nigeria, expressed appreciation for the upgraded rating, noting:

“Over the last three years, we have consistently managed portfolio credit risk downwards without hurting margins.”

He emphasized that FairMoney remains one of the top earners in the microlending space, driven by high customer demand and large-scale loan disbursement volumes. The company has also expanded its product portfolio to include loans for small and medium-scale businesses (SMEs), further strengthening its market reach.

FairMoney’s Continued Growth in Nigeria’s Digital Lending Market

GCR highlighted that despite industry-wide competitive pressure, FairMoney remains a leading microlending institution in Nigeria, supported by:

• A strong brand presence
• Over 10,000 daily loan requests and disbursements
• Proprietary technology that enhances credit risk assessment
• A stable, low-cost customer deposit base
• Modest debt levels and improving portfolio quality

These factors collectively reinforce the institution’s strong credit profile.

Stable Outlook: What GCR Expects Going Forward

The Stable Outlook signals GCR’s confidence that FairMoney will continue improving portfolio quality over the next 12–18 months. Expectations include:

• Increased use of internal and external data for better risk evaluation
• Gradual expansion into secured lending
• A more stable macroeconomic environment
• Strengthening market share and diversifying earnings
• Maintaining NIM below 80%
• Sustaining healthy cash flow and controlled leverage

“This upgrade is a strong endorsement of the FairMoney platform,” Obiekea added. “It highlights our solid business model, strong financial performance, and commitment to effective credit risk management.”

About FairMoney

FairMoney Microfinance Bank is a leading Nigerian financial institution licensed by the Central Bank of Nigeria (CBN). Through its mobile app, FairMoney offers:

• Instant personal loans
• SME loans
• Savings accounts
• Credit lines
• Payment and banking services

FairMoney is on a mission to build a mobile-first bank for the next two billion people in emerging markets.
Learn more at fairmoney.io. The FairMoney app is available on Google Play Store and Apple App Store.