S&P Global announced Tuesday that it has agreed to acquire a majority stake in Agusto & Co., a leading Pan-African rating agency operating in Nigeria, Kenya, Rwanda and Ghana. The investment is a strategic step to support the growth of S&P Global Ratings’ presence in Africa.
Strategic Expansion in African Credit Markets
By combining S&P Global’s international expertise with Agusto & Co.’s strong Pan-African presence and reputation, the partnership aims to expand market insights, strengthen credit transparency, and support market participants across the region. Yann Le Pallec, President of S&P Global Ratings, said: “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.”
Transformational Milestone for Agusto & Co.
Yinka Adelekan, Managing Director of Agusto & Co., described the partnership as a transformational milestone. “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.” The deal also fulfills the late founder Bode Agusto’s vision of affiliating with a leading global rating agency.
Deal Details and Timeline
Following the transaction, Agusto & Co. will continue to operate as a separate ratings entity, issuing its own credit ratings and methodologies under applicable regulatory requirements. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close during the second half of 2026. Financial terms were not disclosed. S&P Global stated the deal will not have a material impact on its financial results.
Background on Agusto & Co.
Agusto & Co. was founded in 1992 by the late Nigerian economist and chartered accountant Olabode (Bode) Agusto as the first credit rating agency in Nigeria. It rates financial institutions, corporates and other entities across key African markets.
