Pan African rating agency, Agusto & Co., has upgraded CrusaderSterling Pensions Limited AA-(PFM) from A+(PFM).

Announcing the development on Tuesday, the pension sector player said the upgrade reflected its robust investment capabilities, effective pension administration, and sound risk management practices.

This upgrade comes 14 months after the receipt of its A+(PFM) rating in 2024, when CrusaderSterling Pensions Limited emerged as the first Pension Fund Administrator to have been assigned a Pension Fund Manager rating of “A” by Agusto & Co. in 2018.

“Our previous A+(PFM) rating was predicated upon significant investments in the automation of key processes related to contributions management and benefits administration.

Furthermore, our accomplishments are attributed to a proven operational track record, a stable team of experienced professionals, and well-structured investment and risk management frameworks,” the company stated.

“The newly awarded AA-(PFM) rating not only validates the effectiveness of our strategic initiatives but also underscores our commitment to operational excellence and a client-focused approach. It serves as a testament to our ongoing progress in delivering value through innovation and efficiency,” it added in a statement.

The firm added that in 2024, it attained the ISO 9001:2015 (Quality Management Systems) and ISO 27001:2022 (Information Security Management Systems) certifications.

“These achievements reinforce our capacity to provide secure, quality, and sustainable services through our digital channels,” the statement added.

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