S&P Global buys majority stake in Nigeria’s Agusto & Co
S&P Global to Acquire Majority Stake in African Credit Rating Agency
By Babajide Komolafe
S&P Global has announced plans to acquire a majority stake in Agusto & Company Limited, a prominent Pan-African credit rating agency. This acquisition aims to enhance S&P’s presence in Africa’s domestic debt markets and improve credit transparency throughout the continent.
The transaction, which is pending regulatory approvals, aligns with S&P Global Ratings’ expansion strategy in Africa by merging its global expertise with Agusto & Co.’s established operations in Nigeria, Kenya, Rwanda, and Ghana.
Yann Le Pallec, President of S&P Global Ratings, expressed that the acquisition signifies the company’s long-term commitment to Africa’s capital markets. “We are delighted to partner with Agusto & Co. to strengthen our domestic ratings presence across Africa,” he said. “This transaction underscores our commitment to supporting growth and transparency in local credit markets throughout the continent.”
Le Pallec emphasized the significant opportunities within Africa, stating that combining global expertise with Agusto & Co.’s local insights could foster informed analysis and enhance investor confidence both regionally and globally.
Yinka Adelekan, Managing Director of Agusto & Co., called the partnership a landmark achievement 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,” said Adelekan.
He further noted that Agusto & Co. has built a trusted credit rating institution over more than 30 years, and the partnership is expected to generate new opportunities while enhancing value for market participants. “Together, we will support the ongoing development of transparent and resilient credit markets across the continent,” he added.
Following the completion of the acquisition, Agusto & Co. will continue to operate as an independent ratings entity, maintaining its own credit ratings and methodologies in accordance with relevant regulatory requirements.
The deal is anticipated to close in the second half of 2026, subject to the necessary regulatory approvals. Financial terms of the agreement have not been disclosed.
