Agusto & Co., a leading Pan-African credit rating agency, has reaffirmed Baobab Nigeria’s “Bbb+” rating, highlighting the bank’s strong financial standing and strategic resilience in Nigeria’s competitive microfinance sector.
Announced on February 3, 2025, the rating reflects Baobab Nigeria’s solid liquidity profile, experienced management team, and commitment to financial inclusion. Despite Nigeria’s challenging macroeconomic environment—marked by high inflation and industry competition—the bank has continued to expand its services, developing innovative products tailored to the evolving needs of its customers.
Eric Ntumba, AG CEO of Baobab Nigeria, welcomed the rating, stating, “We are pleased with Agusto & Co.’s affirmation of our ‘Bbb+’ rating, which showcases our commitment to maintaining financial stability and operational excellence. Our strategic focus remains on strengthening our capital base, optimizing our funding structure, and enhancing efficiency to better serve our customers.”
He added that the bank’s services are designed to improve lives and drive economic growth, reinforcing its impact on the financial sector.
Baobab Nigeria continues to leverage technology and digital solutions to enhance operational efficiency, ensuring seamless and accessible financial services for individuals and small businesses. The affirmed rating further strengthens its credibility, positioning it for sustained growth in Nigeria’s financial landscape.
