GCR grants a “BBB-“ rating to ZEP Re

The agency Global Credit Rating Co has awarded ZEP RE (ex PTA RE) the rating BBB- for its international activities. ZEP RE was founded in 1990 by the member States of the Preferential Trade Area (PTA), which has become ever since, the Common Market for the Eastern and Southern States of Africa (COMESA). ZEP Re's capital is co-shared by fourteen countries on equal basis. 95% of the company's turnover is underwritten in Africa, 66% of which come from Eastern Africa. The turnover reported by the company in 2003 amounted to 25.6 million USD.