Zambia’s 4 Companies Rated by ICRA

ICRA Has Rated 4 Key Firms

Company - Publishing Month - Rating Grade
Zanaco Reinsurance February “BBB”
Zambeef Products March “BBB”
Zanaco Bank Plc March “A”
Airtel Networks Zambia Limited April “BBB”

These ratings reflect each firm's management quality, financial health, and ability to meet financial obligations; these metrics are for both types of investors, whether they are local or global.

Strengthening Local Markets Through Transparent Ratings
The lack of local credit rating agencies in Africa has been a challenge, which often leads to incomplete representation of the continent's true financial health. International capital markets frequently rely on these types of ratings to assess investment risks, and the absence of localized insights has placed African companies at a disadvantage.

ICRA’s efforts in Zambia highlight the altering power of trusted, reliable, and independent credit assessments. By promoting transparency and alignment with the global standards, these ratings can reduce borrowing costs, attract foreign business to finance trade or direct investment, which supports long-term economic growth.
Aligning with Pan-African Financial Goals

The step toward strengthening Africa’s financial credibility was also very well addressed by Zambian President Hakainde Hichilema this year. During his address at the African Union headquarters in Addis Ababa, he emphasized the need for the creation of the Credit Rating Agency in Zambia, which aims to reduce structural bias in global credit evaluations.

ICRA is proud to be a part of this evolving narrative, supporting African businesses and governments as they build stronger, more resilient financial systems.

Conclusion
With four Zambian firms now officially rated, ICRA is paving the way for a new era of financial clarity and transparency with investor assurance in Zambia. These developments are a promising indication of Africa’s economic potential being rated, realized, and recognized. ICRA has established itself among the most reliable and trusted Credit rating agencies, known for its transparent processes and adherence to regulatory standards.