African Capital Alliance’s (ACA) Botswana-based financial services portfolio company’s international scale financial strength rating has been kept at B+ by GCR Ratings.
Continental Reinsurance Company (CRe) Botswana has been affirmed on expectations that the company’s financial profile will be maintained within a sound range over the medium term.
GCR has also kept CRe’s outlook at stable on expectations that the company will continue generating strong earnings.
ACA is invested in CRe Botswana through its Nigeria-based parent company, Continental Reinsurance (CRe).
The investor first backed CRe in 2016, acquiring an undisclosed stake in the company.
Previous investors in CRe also include Emerging Capital Partners (ECP), which also first backed the company in 2016.