NKOMBO KACHEMBA
Lusaka
ICRA Rating Agency Limited Zambia says it has introduced a subscriber-based access system which allows market participants to purchase and access rating reports.
ICRA Zambia chief executive officer and ICRA Africa director of operations David Mwambazi said in a press release yesterday that investors, lenders, corporates and analysts can now access rating reports through the system.
Mr Mwambazi said the initiative is aimed at enhancing transparency in Zambia’s financial markets by broadening access to credit intelligence beyond traditional users such as issuers and regulators.
He explained that the move will help reduce information asymmetry and support informed decision-making among both institutional and retail investors, ultimately contributing to improved market participation and liquidity.
The agency, which is licensed by the Securities and Exchange Commission (SEC) Zambia, has been expanding its role beyond conventional credit ratings by investing in digital platforms and innovative financial tools.
Mr Mwambazi said ICRA Zambia has also developed web-based credit assessment tools that enable real-time evaluation of borrower risk profiles using standardised methodologies.
He said the tools allow users to conduct online credit scoring, automate financial analysis and benchmark financial performance, particularly benefiting small and medium enterprises and financial inclusion initiatives.
In addition, the agency has rolled out loan management systems tailored for microfinance institutions, integrating credit scorecard models into lending processes to improve efficiency and portfolio management.
Mr Mwambazi said the systems support automated borrower scoring, portfolio monitoring and early warning mechanisms, helping institutions reduce default rates and strengthen risk management.
Meanwhile, ICRA Zambia has intensified its issuance of unsolicited ratings to improve market coverage and provide independent risk assessments of listed companies and commercial banks.
He said the agency has so far achieved between 50 and 60 percent coverage of listed companies in Zambia, enhancing visibility and providing valuable benchmarks for investors and policymakers.
Mr Mwambazi added that the agency is also developing forward-looking industry reports focusing on equity markets and the banking sector, which will provide insights into sector performance, risks and macroeconomic trends.
He said the reports are expected to support investment decisions and policy formulation, with backing from investment funds and development partners.
