S&P Global says it has agreed to acquire a majority stake in Agusto & Co., a Pan-African rating agency, in a move to expand its footprint in Africa’s domestic credit rating industry.
The companies announced the deal in a joint statement on
Tuesday.
The investment, described as a strategic step for both
companies, is expected to complement and support the growth strategy of the
S&P Global ratings division in Africa.
Under the agreement, S&P Global will partner with Agusto
& Co., whose operations span Nigeria, Kenya, Rwanda and Ghana.
But the transaction remains subject to regulatory approvals,
the companies said.
According to the statement, the partnership is expected to
support the development of Africa’s credit markets by combining S&P
Global’s global expertise with Agusto & Co.’s regional knowledge and market
presence.
“We are delighted to partner with Agusto & Co. to
strengthen our domestic ratings presence across Africa,” Yann Le Pallec,
president of S&P Global Ratings, said.
“This transaction underscores our commitment to supporting
growth and transparency in local credit markets throughout the continent.
“Africa’s opportunity is extraordinary, and by combining our
global expertise with Agusto & Co.’s deep local insights, together we can
foster informed analysis, constructive market dialogue, and greater investor
confidence both regionally and internationally.”
Yinka Adelekan, managing director of Agusto & Co.,
described the deal as a “transformational milestone” for the company and
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 said.
“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.”
Subject to obtaining the required regulatory approvals, the
companies expect the transaction to close in the second half of 2026.
S&P Global also said the acquisition is not expected to
have a material impact on its financial results or those of its ratings
business.
The financial terms of the transaction were not disclosed.
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