

About ICRA Rating
ICRA RATING AGENCY LIMITED is one of the fastest-growing companies providing Credit Rating Services. With a presence across Europe, Africa, and Southeast Asia, we provide the information, tools, and expertise to help customers make a confident decision to mitigate any commercial risk. ICRA enables customers quick access to objective, customized information whenever and wherever they need it.
ICRA has an expert team with a combined experience of more than 25 years in Audit, Inspection, Financial Analysis, Credit Research, Banking, Compliance, AML, and Certification. Our ratings significantly influence corporate and financial institutions to achieve better market standing. ICRA ratings aim to help various corporations and institutions demonstrate their financial capability.
As per the current survey, Uganda and Africa’s actual potential for corporates, financial institutions, and generally for the market is not properly analyzed and has incorrect market comparison which makes them lose opportunity for having local and international projects, potential partnerships, financing, investors, and more.
ICRA Rating Agency Limited wants to focus and showcase on Uganda and also African markets globally with the help of our local and international ratings which we provide for corporates and financial institutions. We believe that this will also help them capture more markets, and networks, and build stronger relations not just locally but also internationally, this way it can help them discover and expand their market globally.
OUR VISION
A global leader in credit rating, audit, and credit research. ICRA’s long-term vision is to become the most credible rating agency in the finance world, responding to the needs of organizations globally.
OUR MISSION
An agency that serves all business categories from small and medium to large enterprises, who is customer-centric builds relationships, enhances business profiles, and helps connect businesses globally.
ICRA SCORECARD
ICRA SCORECARD, serves as a comprehensive tool for assessing the initial risk profiles of both retail (individual customer) and corporate clients seeking credit and borrowing services. This scoring system is designed to cater to two distinct segments such as Retail Customers and Corporate Customers
Reserve Bank of Zimbabwe (RBZ) - Accreditation
The Reserve Bank of Zimbabwe (RBZ) has accredited International Credit Rating Agency (Private) Limited as a credit rating agency in Zimbabwe. This accreditation allows the agency to assess the creditworthiness of banking and microfinance institutions in the country.
Licensed BY THE SEC OF Zambia
ICRA Rating, the Zambia subsidiary of ICRA Rating Tanzania, is registered with and licensed by the Securities and Exchange Commission of Zambia (SEC). It is one of the fastest-growing companies providing Credit Rating Services.
Bank of Zambia - clearance
Ministry of Finance and National Planning Zambia - Clearance

Ministry of Finance Zambia

The Ministry expresses its gratitude for the agencys pursuit of recognition and accreditation from the Ministry of Finance and National Planning. Additionally, the Ministry recognizes that the SEC is legally mandated to accredit financial institutions, including our agency. Such accreditation provides essential credibility for the institution on both local and international stages.
MINISTRY OF FINANCE TANZANIA - CLEARANCE

MINISTRY OF FINANCE TANZANIA

The Ministry of Finance is advocating for stronger and credible financial institutions, hence concurs with the view that credit rating will add value to the financial institutions and corporates by show casing their potentiality.
Appreciated by Bank of Tanzania

BANK OF TANZANIA

Bank of Tanzania appreciates the contribution of external credit rating services in promoting access to finance in the country
RECOGNIZED BY THE BANK OF UGANDA

Central Bank of Uganda

ICRA Rating, Uganda subsidiary of ICRA Rating Tanzania is Recognized by the Bank of Uganda (Central Bank of Uganda). ICRA Rating is the first ever credit rating agency to have a base in Uganda. The Bank of Uganda has recognized the presence and importance of ICRA Rating in guiding access to finance for corporate entities and financial institutions in Uganda.
Recognition from UMRA

Uganda Microfinance Regulatory Authority

UMRA has also recognized ICRA Rating Agency Limited as a credit rating service provider to their regulated institutions. It also recommends that license holders be credit-rated by ICRA Rating Agency Limited.
Our Services
ICRA Rating Agency Limited offers credit rating services for issuers, portfolio rating services for investors, and a range of financial services to facilitate informed decision-making in the financial sector, helping clients manage risk and make sound investment choices.
ISSUER CREDIT RATING SERVICES
An ISSUER CREDIT RATING is an independent assessment of a corporate entity or financial institution’s creditworthiness in general terms and helps any organization build a strong credit profile. It is based on a well-structured methodology after reviewing both qualitative and quantitative factors of target businesses. The rating analysis is well descriptive and assesses both historical performance as well as future performance prospects of the business.
What are their benefits & usages ?
- Increase your access to new Markets
- Explain your creditworthiness to Outside Parties
- Benchmark your Organization’s Strength & Weaknesses
- Enhance your corporate Transparency
- Anticipate the cost of Capital & Create strategic Alternative
- Share Information when considering a Joint-venture Partner


PORTFOLIO RATING SERVICES
A PORTFOLIO RATING is an evaluation and assessment report that focuses deeply on the actual portfolio of the banks or financial institutions. It is a thorough evaluation of existing and potential risks and the mitigation of those risks. A periodic portfolio rating and review helps banks or financial institutions to make necessary changes to keep the strategic asset allocation in place keep current stakeholders/investors on track with their envisioned goals and give comfort to new investors. Moreover, it will also support banks or financial institutions in getting the comfort of other FI in participating in large-size Trade finance transactions.
What are their benefits & usages ?
1. MITIGATE THE RISK
The portfolio rating of a bank reflects its existing and potential credit risk associated with its asset portfolios, other real estate owned, and other assets, as well as off-balance sheet transactions.
2. REDUCE THE RISK OF LOSSES
Asset portfolio quality is an important determinant of risk that profoundly impacts liquidity and costs, their pronouncements can greatly affect the overall condition of a business for years to come.
3. BETTER DECISION MAKING
For banks, the primary factor affecting overall asset quality is the quality of their loan portfolio and their credit administration program.
INVESTORS SERVICES
An INVESTORS SERVICE is an evaluation and assessment report which is an essential aspect of the investment process that allows investors to assess the effectiveness of their investment strategies by analyzing risk, return, and risk-adjusted performance. This is also a system used by securities and insurance companies to rate the creditworthiness which allows investors to identify strengths and weaknesses, make necessary adjustments, and ensure they are meeting their investment objectives.
What are their benefits & usages ?
- Help Investors make informed Decision
- Help Investors compare the risk associated with different Investments
- Help Investors understand the Level of Potential return & the Level of Potential Loss.
- Help Investors determine the Level of Risk that they are comfortable taking in their Investments.


ESG RATING
ESG are the starting three letters from environment, social and governance.Together they are important non-financial criterions on which now a days business are expected to do well. Also, they represent material risk to the long-term company performance. ESG criteria are used by the impact investors to screen the potential investments.Globally and Locally various initiatives like SDGs, UN-PRI etc. are aligned with ESG.
What are their benefits & usages ?
- BETTER FIRM VALUE
- BETTER COST OF THE DEBT
- MORE BUSINESS OPPORTUNITIES
- STAKEHOLDER SATISFACTION
ICRA SCORECARD
ICRA SCORECARD serves as a comprehensive tool for assessing the initial risk profiles of both retail (individual customer) and corporate clients seeking credit and borrowing services. This scoring system is designed to cater to two distinct segments such as Retail Customers and Corporate Customers.
What are their benefits & usages ?
- COMPREHENSIVE RISK ASSESSMENT
- PORTFOLIO EVALUATION
- OBJECTIVE DECISION MAKING
- EFFICIENT CUSTOMER ONBOARDING


Bank Loan Rating
ICRA’s Bank Loan Ratings provide a comprehensive evaluation of both the creditworthiness of borrowers and the quality of specific loans issued by banks. These ratings are crucial for assessing the risk associated with lending or investing in loans, as they offer insights into the likelihood of timely repayment and the financial health of the borrower. By considering various factors such as financial stability, debt repayment history, and market conditions, ICRA’s ratings help businesses, lenders, and investors make informed decisions.
What are their benefits & usages ?
- Assess risk with precision to make informed financial decisions.
- Evaluate the quality of loans to align with your risk profile.
- Build investor confidence with trusted loan and borrower ratings.
- Make strategic lending decisions based on reliable credit insights.

Group’s Membership & Certifications
ICRA Rating Agency Limited boasts a robust portfolio of industry memberships and certifications, underlining its commitment to upholding high standards and best practices in the financial services sector. These affiliations reinforce ICRA’s credibility and expertise in delivering trusted credit rating services to its global clientele.
















Group’s Membership & Certifications
ICRA Rating Agency Limited boasts a robust portfolio of industry memberships and certifications, underlining its commitment to upholding high standards and best practices in the financial services sector. These affiliations reinforce ICRA’s credibility and expertise in delivering trusted credit rating services to its global clientele.


















Our Team Members
Our diversified group of companies is united by a commitment to excellence and innovation. With unique strengths in various industries, we work together to create lasting value and embrace new opportunities for growth and innovation.










