GCR traces its origins back to 1996 when it was established as the African arm of the New York Stock Exchange-listed Duff & Phelps. Very rapid growth followed and GCR has since established itself as the leading rating agency in Africa, accounting for the majority of all ratings accorded on the African continent. Through its local presence in Mauritius, South Africa, Nigeria, Kenya and Zimbabwe, GCR has the largest rating team in Africa which gives it unmatched on-the-ground presence, as well as easy access to market participants. GCR is licensed as a rating agency in a number of markets, including Kenya with the Capital Markets Authority, Nigeria with the Securities and Exchange Commission, Zimbabwe with the Reserve Bank of Zimbabwe and Mauritius with the Financial Services Commission. It is also recognised as an eligible External Credit Assessment Institution (ECAI) by the Bank of Mauritius. In South Africa, GCR is registered as a Credit Rating Services Provider by the Financial Services Conduct Authority. GCR is also recognised as an eligible ECAI by the South African Reserve Bank.