S&P Global to Buy Majority Stake in Nigeria’s Agusto & Co in African Ratings Push
The deal combines S&P Global Ratings’ international capabilities with Agusto & Co.’s local expertise across Nigeria, Kenya, Rwanda and Ghana.
S&P Global has agreed to acquire a majority stake in Pan-African credit rating agency Agusto & Company Limited, strengthening its position in Africa’s growing domestic debt markets.
The transaction will bring together S&P Global Ratings’ international experience and resources with Agusto & Co.’s knowledge of African markets. The companies said on Tuesday that the partnership would broaden market insights, improve credit transparency and support investors and other participants across the continent.
Agusto & Co. operates in Nigeria, Kenya, Rwanda and Ghana, providing ratings for financial institutions, corporations and other entities. The company has been active in African credit markets for more than 30 years.
Yann Le Pallec, president of S&P Global Ratings, said the investment reflected the company’s commitment to improving transparency and supporting growth in Africa’s local credit markets.
“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,” Le Pallec said.
Agusto & Co. Managing Director Yinka Adelekan described the agreement as a transformational milestone for the company and African capital markets. He said the partnership fulfilled the vision of Agusto & Co.’s late founder to establish an affiliation with a leading international rating agency.
“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,” Adelekan said.
Following completion of the deal, Agusto & Co. will continue operating as a separate ratings entity. It will issue its own credit ratings and use its own methodologies in line with applicable regulatory requirements.
Financial terms were not disclosed. The acquisition remains subject to customary closing conditions and regulatory approvals and is expected to close in the second half of 2026.
S&P Global said the transaction was not expected to have a material effect on the financial results of the company or its ratings division.
