Who We Are
PRS was initially incorporated as Credit Rating Agency Limited (CRA) on 29th December 2011, with Company Registration Number 98505 under the Companies Act of the Laws of Zambia. The Company was licensed by the Securities and Exchange Commission (SEC) on 24 September 2014 to provide credit rating and related advisory services to institutions, under Licence Number DL/14/51. CRA rebranded to PRS and the license was subsequently reissued on 4 June 2021 under the new credit rating agency regulations as Licence Number CRA/21/1. Link
Our corporate values are: Integrity, Independence, Analytical Rigour, Commitment and Innovation.
What We Offer
Premier Rating Services Limited is authorised to provide credit rating services to corporations, organisations, municipalities and public sector entities. The services cover institutional ratings and ratings specific to debt instruments issued by them.
The ratings are our expressions of opinion on the borrower's ability to meet financial obligations when they fall due and in the manner required. The ratings represent a structured way of understanding the credit risk profile that investors are faced with when lending to a particular borrower or investing in debt instruments. A rating provides independent and reliable market information on the creditworthiness of an entity or a financial instrument. This information is of great benefit to a rated entity, investors and the public at large. Empirical evidence has shown that financial markets with ratings have grown significantly and interests of participants better protected. Indeed ratings are widely acclaimed to be a catalyst to corporate growth and market development, as well as a facilitator of risk management.
CRA further provides related financial advisory services to institutions and investors.
Board Members
- Mr. Chishimba Brian Yumbe - Chairman: Chishimba is a Moody's Certified Corporate Credit Rating Analyst. He has a Masters Degree and Edward Mason Fellowship in Public Policy and Management from Harvard University and an MBA degree from Edinburgh Business School. Chishimba also holds professional certifications as Fellow of the Association of Chartered Certified Accountants (ACCA), Certified Information Systems Auditor (CISA) and Fellow of the Zambia Institute of Chartered Accountants (ZICA), under which he served as Vice President from 2011 to 2014. Chishimba brings over 25 years of experience in accounting, audit, financial management and corporate reporting. His previous roles include with the International Finance Corporation (IFC) of the World Bank Group (WBG) as the Regional Financial Controller for Africa for eight years. He also served as Finance Director of the Bank of Zambia (BOZ) for ten years up to July 2014 and earlier worked as Assistant Director at BOZ, Systems Auditor at the United Nations Headquarters in New York and as Audit Senior at the Big Four accounting firm, KPMG. Chishimba has sat on a number of corporate boards including the National Pensions Scheme Authority (NAPSA) and Zamsolar.
- Mr. Mwiza Mbewe - Mwiza has had a career spanning over 20 years in the financial markets. He has worked for a diverse range of organisations including the Bank of Zambia (Financial Markets Department and Bank Supervision Department), ZCCM Investments Holdings plc (Investments Department), Institute for Finance and Economics (Associate) and Credit Rating Agency Limited (former Chief Executive Officer).He has previously served on the boards of Ndola Lime Company Limited and Chambeshi Metals plc.
Mwiza’s qualifications include a Bachelor of Arts (Economics) from the University of Zambia, a Master of Science (Financial Economics) from the University of London and he is a Fellow of the Association of Chartered and Certified Accountants.
- Professor Pinalo Chifwanakeni- Founder and Vice Chancellor of the University of Lusaka. Professor Chifwanakeni has a strong track record in both academia and industry. He holds Bachelors and Masters of Scence degrees in accounting and finance, and is a fellow of the Chartered Institute of Management Accountants (CIMA), Zambia Insitute of Chartered Accounants (ZICA) and the Zambia Institute of Banking and Financial Services (ZIBFS). Professor Chifwanakeni has in the past served as Chief Execuitive of ZICA and ZIBFS and as Chief Financial Officer in commercial banking. At the inaugural ZICA awards in 2012, Professor Chifwanakeni was awarded as the Most Innovative Accountant in Zambia. Professor Chifwanakeni has been appointed Non-Executive Director.
- Mr. Yoram Kapai Yoram holds a Bachelor of Engineering degree in Minerals Engineering from Leeds University in the United Kingdom. He is a member and Registered Engineer (R.Eng) with the Engineering Institute of Zambia (EIZ). Yoram is currently with Konkola Copper Mines as Plant Manager. He is also the Chairman of Nchanga Rangers Footbal Club.
- Mr. Dionysius Makunka-ACCA qualified Chartered Accountant and Fellow of ZICA. He holds Chartered Financial Analyst (CFA) designation and Msc in Economics and Finance from University of Manchester in UK and a BA Accountancy from CBU. Dionysius brings over 20 years of experience in regulating financial markets and institutions and in financial stability assessments. Mr. Makunka is the Non-Executive Director.
Executive Management
- Mr. Dionysius Makunka -Profile presented above under Board Membership.
- Mr. Obed Mbuzi - Obed has over 25 years of experience in the areas of Enterprise Management and Operations, Finance, Corporate engagements and Partnerships, CSR Management, Project appraisal, Risk Management and Compliance. He is an Associate expert to various institutions and consulting firms locally and internationally with experience in Sub-Saharan African countries involved in high level engagement in development projects and business advisory support assignments. He is also an ILO Certified Start and Improve Your Business (SIYB) and Expand Your Business (EYB) trainer, Certified TEVETA Business and Entrepreneurship Trainer, an Agricultural Business Analysis & Investment advisor, High Court Certified Mediator, Dispute Resolution Expert and a part-time guest lecturer at University of Calgary, CANADA. Professional Qualification: Diploma in Financial Administration (DFA), MBA 1 and advanced training in Accounts and Business studies, Entrepreneurship skills development; Project Organization and Management; Internal audit and investigations; Insurance (CIP); Project financial, Environmental and social risks analysis.
Staffing
Premier Rating Services Limited employs finance, banking or business professionals as credit analysts. A significant part of the analysis in credit ratings is of a financial nature. However, business risk analysis is also very substantial and CRA therefore seeks to recruit individuals who can comprehend financial figures in the context of the business environment, past, present and future.
The nature of PRS's work is not routine. Each client presents unique perculiarities. It is therefore incumbent on PRS to recruit staff with superior aptitude and academic results. The typical PRS analyst is someone who graduated within the top 20% of a reputable undergraduate programme or professional certification.For a listing of current vacancies at PRS, click the link below:
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