Africa-Press – Namibia. • EDWARD WEST
GLOBAL credit rating agency Moody’s is acquiring a majority (51%) stake in the Africa-focused rating agency Global Credit Rating Company (GCR) for an undisclosed sum, a statement by the agency says.
GCR’s operations span Africa, including South Africa, Nigeria, Senegal, Kenya, and Mauritius.
“GCR’s ratings play a significant role in the growth of Africa’s financial markets by providing critical insights into credit across a range of economies and sectors,” Moody’s president and chief executive, Rob Fauber, says.
GCR chief executive Marc Joffe says: “This transaction will enable us to build on our deep local market insights and a quarter century of growth across the continent. It will also provide the opportunity to further develop solutions that meet a range of customer needs, including credit ratings, credit risk solutions, and ESG (environmental, social and governance factors) capabilities.”
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