S&P Global Seals Deal For Majority Stake In Agusto & Co.

S&P Global is set to strengthen its footprint in Africa after reaching an agreement to acquire a controlling stake in Agusto & Co., a prominent African credit rating agency.

The proposed transaction, which remains subject to regulatory approvals, was announced on Tuesday in a joint statement by the two companies.

Financial terms of the deal were not disclosed.
Under the agreement, S&P Global will partner with Agusto & Co., a leading African credit rating agency with operations across Nigeria, Kenya, Ghana and Rwanda.

The partnership is expected to combine S&P Global’s global analytical expertise with Agusto & Co.’s extensive regional market knowledge to enhance credit transparency, deepen investor confidence and accelerate the development of domestic credit markets across Africa.

The acquisition represents one of the most significant investments by a global credit ratings provider in Africa’s domestic ratings industry and underscores the growing strategic importance of African financial markets to international investors.

According to the companies, the investment aligns with S&P Global Ratings’ long-term growth strategy for Africa by expanding its market intelligence capabilities and strengthening its ability to serve issuers, investors and other market participants across the continent.

President of S&P Global Ratings, Yann Le Pallec, described the transaction as a demonstration of the company’s enduring commitment to Africa’s evolving financial markets.

“We are delighted to partner with Agusto & Co. to strengthen our domestic ratings presence across Africa,” Le Pallec said.

He noted that Africa presents significant long-term growth opportunities and said the combination of S&P Global’s global expertise with Agusto & Co.’s deep understanding of local markets would promote more informed credit analysis, strengthen market dialogue and enhance investor confidence both within Africa and internationally.

Le Pallec added that improving transparency and expanding access to reliable credit assessments would contribute to stronger and more resilient capital markets across the region.

Commenting on the transaction, Managing Director of Agusto & Co., Yinka Adelekan, described the partnership as a transformational milestone not only for the company but also for Africa’s broader financial ecosystem.

According to him, the agreement fulfills the long-held vision of the company’s late founder to establish a strategic affiliation with a leading global credit rating agency.

Adelekan said Agusto & Co. has spent more than three decades building a trusted credit rating institution that supports businesses, governments and investors across Africa.

He expressed confidence that the partnership would unlock new opportunities for issuers and investors while contributing to the development of transparent, resilient and efficient credit markets throughout the continent.

Despite the acquisition, Agusto & Co. will continue to operate as an independent domestic ratings agency.

The company will retain responsibility for issuing its own credit ratings and applying its proprietary rating methodologies in accordance with applicable regulatory requirements in the countries where it operates.

Both organisations said the transaction remains subject to customary closing conditions, including approvals from relevant regulatory authorities in the jurisdictions where Agusto & Co. conducts business.

The companies expect the acquisition to be completed during the second half of 2026 once all required approvals have been secured.

S&P Global also stated that the acquisition is not expected to have a material impact on the financial performance of either S&P Global or S&P Global Ratings.

Market analysts view the transaction as a significant vote of confidence in Africa’s expanding capital markets, with the partnership expected to enhance the quality of domestic credit assessments, broaden access to international best practices and support increased investment across the continent.

The transaction is expected to enhance the global ratings firm’s presence in the continent’s domestic credit ratings market while supporting the continued development of Africa’s capital markets.