S&P Global has agreed to acquire a majority stake in Agusto & Co., a Pan-African rating agency with operations in Nigeria, Kenya, Rwanda, and Ghana. The investment will complement and support the growth strategy of the S&P Global Ratings division in Africa.
Agusto & Co. will continue to operate as a separate ratings entity and issue its own credit ratings and methodologies following the transaction. The agency has assigned more than 4,000 ratings to banks, corporates, and other entities across Africa since its inception. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close during the second half of 2026. Terms were not disclosed.
The transaction is not expected to have a material impact on the financial results of S&P Global or S&P Global Ratings.
KEY QUOTES:
“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. 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.”
Yann Le Pallec, President, S&P Global Ratings
“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. 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.”
Yinka Adelekan, Managing Director, Agusto & Co.
