S&P Global acquires majority stake in Africa's Agusto & Co. to boost debt markets

S&P Global has announced its agreement to acquire a majority stake in Agusto & Company Limited, a prominent Pan-African credit rating agency. This strategic acquisition is designed to bolster S&P Global's presence within Africa's domestic debt markets and significantly improve credit transparency throughout the continent.

“

We are delighted to partner with Agusto & Co. to strengthen our domestic ratings presence across Africa. This transaction underscores our commitment to supporting growth and transparency in local credit markets throughout the continent.

The transaction, which is contingent upon regulatory approvals, will integrate S&P Global Ratings' worldwide expertise with Agusto & Co.'s existing operations in Nigeria, Kenya, Rwanda, and Ghana. This synergy is expected to accelerate S&P Global's expansion strategy in Africa.

Yann Le Pallec, President of S&P Global Ratings, expressed enthusiasm for the partnership, emphasizing S&P Global's long-term dedication to Africa's capital markets. "We are delighted to partner with Agusto & Co. to strengthen our domestic ratings presence across Africa," Le Pallec stated. He added that the deal "underscores our commitment to supporting growth and transparency in local credit markets throughout the continent."

“

This partnership is a transformational milestone for Agusto & Co. and African capital markets, fulfilling our late founder’s vision of affiliating with a leading global rating agency.

Agusto & Co. Managing Director, Yinka Adelekan, hailed the partnership as a pivotal moment for both the company and the broader African capital markets. "This partnership is a transformational milestone for Agusto & Co. and African capital markets, fulfilling our late founder’s vision of affiliating with a leading global rating agency," Adelekan remarked. He further noted that combining Agusto & Co.'s extensive Pan-African market knowledge with S&P Global Ratings' global resources would foster greater market dialogue and investor confidence.

“

For more than 30 years, we have built a trusted credit rating institution across Africa. By combining our deep Pan-African market knowledge and analytical independence with S&P Global Ratings’ global expertise, resources and affiliate network, we believe this partnership will create new opportunities, enhance value for market participants, and support the continued development of transparent and resilient credit markets across the continent.