Sovereign rating to improve business climate, entice local and foreign investors

By Guardian Reporter , The Guardian
Published at 01:02 PM Apr 18 2024
Imran Jahangir, ICRA’s Head of Credit Risk Department.
Photo: File
Imran Jahangir, ICRA’s Head of Credit Risk Department.

IN the realm of credit risk assessment, the ICRA Credit Risk team stands as a model of diligence and equal treatment, employing a meticulous methodology to evaluate the creditworthiness of entities.

At the heart of their process lies a commitment to thorough analysis, ensuring the integrity of their ratings.

Imran Jahangir, ICRA’s Head of Credit Risk Department said in a recent interview that since the agency started its footprint in Africa and Tanzania it has helped a lot of entities to grow their businesses, explore possibilities and grab opportunities.

“Tanzania’s sovereign rating has been recently upgraded with a stable outlook. This upgrade holds significant promise to improve the country's business climate and entice both local and international investors,” said l Jahangir.

Explaining, he said journey of the ICRA credit risk team begins with a meticulous due diligence phase, where they scrutinize Know Your Customer (KYC) documents to verify client authenticity, laying the foundation for the assessment process. 

Once armed with necessary documents, the team launches into a comprehensive rating process, exploring qualitative and quantitative aspects with thoroughness, added Jahangi, noting  the he resulting rating report is a detailed portrayal of the company's background, management structure, industry context, and financial health, including forward-looking assessments.

He said beyond number crunching, the team emphasizes collective discussion to ensure holistic consideration of all factors, conclusion in an impartial rating.

“Integrity serves as the cornerstone of the team’s approach, with ratings grounded in difficult analysis and non-bias. For the ICRA credit risk team, integrity is not just a value,, it is the cornerstone upon which their reputation for excellence is built,” he remarked.