Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Finance

Global Credit Ratings not planning to leave the Kenyan market, CEO informs

Wednesday, 23 January 2019 16:08
Global Credit Ratings not planning to leave the Kenyan market, CEO informs

(Ecofin Agency) - Global Credit Ratings (GCR), a South Africa based rating agency acquired by Carlyle Group, assures that it is not planning to leave the Kenyan market as some local media announced.

Kenya and the Comesa region as a whole is a crucial strategic base for GCR to maintain and in fact enhance its presence, and one that we are exploring additional investment to further penetrate our leading market position”, said Marc Joffe (photo), Global Credit Ratings’ CEO, according to statements reported by a Kenyan financial media.

The rating agency explains that following its acquisition by Carlyle Group, it had to restructure the group and obtain a new licence from regulators. They did this in 2018. The confusion was spurred by the official journal’s announcement that the revocation application submitted by GCR for its old licence had been approved.  

Three rating agencies are in the Kenyan market which is still very hard because the rating of companies is not mandatory. GCR is a major player in the sector in Africa. It rates 500 companies in 20 countries. In Kenya, it has 50 firms in its portfolio.

Idriss Linge





 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.