By Abubakar Yunus
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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