Credit rating agencies evaluate the creditworthiness of individuals, companies, and other entities based on their financial history and other factors such as market trends and economic indicators.
Credit ratings are important because they determine the likelihood of an entity defaulting on its debts. A good credit rating indicates that the entity is likely to pay back its debts in a timely and consistent manner, while a poor credit rating indicates a higher risk of default.
In Kenya, credit ratings are used by banks and other financial institutions to assess the risk of lending money to individuals and businesses. A good credit rating can lead to lower interest rates and better terms for borrowers, while a poor credit rating can make it more difficult to obtain credit or result in higher interest rates and less favorable terms.
Below are credit rating institutions licensed and approved by Kenya Market Authority as at December 21 2022.
Agusto and Company Limited
Agusto & Co. is a prominent credit rating agency in Nigeria and Sub-Saharan Africa, offering comprehensive industry research and knowledge. With a Pan-African presence, the agency has rated over 3,000 entities including banks, insurance companies, investment managers, and more.
Agusto & Co. is licensed to provide credit ratings in Nigeria, Kenya, and Rwanda, and has extensive knowledge of the African macroeconomic and business landscapes.
Metropol Corporation Limited
Metropol was founded in 1996 as a business information and credit management company in Kenya. In 2006, it expanded its services to include credit rating services, which enable corporates to raise capital and meet their financing needs.
Additionally, Metropol is licensed by the Central Bank of Kenya to provide Credit Reference Bureau (CRB) services to all banks in Kenya.
They are located at KCB Towers, 15th Floor Kenya Road, Upper Hill, Nairobi P.O Box 35331 – 00200 Nairobi-Kenya
Metropol CRB Contact Centre. Barclays Plaza, 9th Floor Loita Street, Nairobi-Kenya
Phone Numbers:(+254) 709 834 000 / (+254) 730884000.
Global Credit Company
Global Credit Capital Partners Group is a financial services firm that specializes in capital raising and syndications for governments, private developers, and corporations in various African countries, including Kenya, DRC, Southern Sudan, Malawi, Zambia, and the Western Africa economic block.
In Kenya, Global Credit Capital Partners Group services include restructuring fiscal debt, establishing special drawing rights for the treasury, raising capital for governmental institutions, and partnering with A&M Fund managers of the UK and other accredited financial institutions in the USA and Europe for real estate development ventures and other undertakings.
They are located at 3rd Floor, Golf View Office Suites, Wambui Road, Muthaiga
P.O Box 41729 – 00100 Nairobi Tel:+254-720416135, 733894781, DL 766987181 firstname.lastname@example.org, email@example.com
Care Ratings (Africa) Private Limited
CARE Ratings (Africa) Private Limited (CRAF) is a credit rating agency licensed by the Financial Services Commission of Mauritius in May 2015. It is recognized as an External Credit Assessment Institution by the Bank of Mauritius since May 2016. CRAF provides credit ratings and related services in Mauritius and other parts of Africa like Kenya.
As of March 31, 2017, CRAF’s shareholders include CARE Ratings, African Development Bank (AfDB), MCB Equity Fund (MEF), and SBM (NFC) Holdings Limited (SNHL), with majority shareholding and management control belonging to CARE Ratings. CRAF receives technical support from CARE Ratings on rating systems, procedures, and methodologies to ensure high-quality credit opinions.
They are located at 5th Floor, MTML Square, 63, Cyber City, Ebene, Mauritius Tel: 230 58626551E-mail: firstname.lastname@example.org
A.M Best Europe – Rating Services Limited
A.M. Best Europe – Rating Services Limited is a credit rating agency that specializes in providing financial strength ratings and issuer credit ratings for insurance companies and other related entities. It is a subsidiary of A.M. Best Company, Inc., which is one of the oldest and most reputable rating agencies in the world.
A.M. Best Europe’s ratings are based on a comprehensive analysis of an insurer’s financial strength, operating performance, and market profile. The agency uses a variety of quantitative and qualitative factors to determine a company’s rating, including its capitalization, underwriting performance, investment quality, and management competency.
They are located at 6th Floor, 12 Arthur Street, London EC 4R 9AB, United Kingdom
Key take away
One of the secrets to rise your credit score is to reduce credit utilization. Credit utilization is the amount of credit you’re using compared to the amount of credit you have available. Ideally, you should keep your credit utilization below 30% to maintain a good credit score.
Also, it is important for individuals and businesses in Kenya to maintain a good credit rating by paying bills on time, managing debt effectively, and maintaining a stable financial history.
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