Fast Credit Limited, a leading finance company, has successfully completed its Series 5 & 6 oversubscribed Commercial Paper (CP) issuance, reaffirming its position as a reliable partner in Nigeria’s financial sector. This milestone is on the back of the company’s recent and consistent rating performance from two leading credit rating agencies.
Agusto & Co. has assigned Fast Credit a “Bbb” rating with a stable outlook, while DataPro awarded the company a “BBB+” rating and an A2 stable outlook for the 2024/2025 period. The ratings reflect Fast Credit’s robust profitability, solid capitalization, seasoned management team, and an innovative suite of financial products designed to meet diverse customer needs. The ratings were the result of a meticulous evaluation of Fast Credit’s financial performance, corporate governance practices, risk management framework, regulatory compliance and medium- to long-term business outlook.
These assessments underscore Fast Credit’s strong credit profile, ample liquidity, and low default risk.
Commenting on the achievement, Emeka Iloelunachi, Managing Director and CEO of Fast Credit Limited, expressed the company’s satisfaction with the recognition. “Fast Credit is delighted with the investment-grade ratings from both agencies, which underscore our consistent growth and success over the years,” said Iloelunachi.
He highlighted the company’s key strengths, including strong profitability, solid capitalization, high asset quality, a seasoned management team and a diverse portfolio of innovative financial products.
Fast Credit Limited prides itself on delivering customer-centric solutions that cater to both individual and corporate clients.
Credit Solutions:
• Payroll Lending: Customized for public and private sector employees.
• Consumer Loans: Flexible financing for individuals.
• SME and Corporate Lending: Designed for small businesses and corporations.
Investment Solutions:
• Fast Credit Investment Note: High-yield wholesale funds for institutional investors.
• Fast Credit Thrive: A retail product offering competitive returns with a lock-up feature.
• Fast Credit Affluent & Pearl: Savings solutions with attractive returns.
A unique offering is the KiddiesSwag account, a fully digitalized product for children and young adults aged 0-18. The account promotes early saving habits and includes benefits such as coverage for government-approved exam fees (Common Entrance, JSSCE, WAEC, and Cambridge). The KiddiesSwag account requires a minimum deposit of ₦50,000 and offers a 15% annual interest rate.
Looking ahead, Mr. Iloelunachi emphasized that these ratings mark a pivotal milestone in Fast Credit’s journey toward achieving its strategic goals and maintaining a competitive edge in Nigeria’s financial landscape. “Our commitment to delivering innovative solutions and maintaining strong financial health continues to be the driving force behind our success,” he concluded.
For more details about Fast Credit’s offerings, visit www.fastcredit-ng.com, call 0201 888 5046, or connect on WhatsApp at +234 813 110 5876.
