S&P Global Expands African Footprint with Acquisition of Agusto & Company Limited

The partnership aims to synergize S&P Global's extensive international expertise with Agusto & Co.'s established reputation and local knowledge. By doing so, the two entities hope to enhance market insights, improve credit transparency, and better support market participants throughout the region.

Yann Le Pallec, President of S&P Global Ratings, expressed enthusiasm about the transaction, stating, "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." He emphasized the extraordinary opportunities present in Africa and noted that the collaboration will foster informed analysis, constructive market dialogue, and greater investor confidence both regionally and internationally.

Yinka Adelekan, Managing Director of Agusto & Co., hailed the partnership as a transformational milestone for both the agency and African capital markets. He noted that the acquisition fulfills the vision of Agusto & Co.'s late founder to affiliate with a leading global rating agency. "For more than 30 years, we have built a trusted credit rating institution across Africa," Adelekan remarked. He believes that combining Agusto & Co.'s deep local insights with S&P Global Ratings' resources will create new opportunities and enhance value for market participants.

Agusto & Co. has established itself as a leading provider of credit ratings and industry research in Africa, having assigned over 4,000 ratings to various financial institutions, corporates, and other entities since its inception. The agency holds licenses to operate in Nigeria, Kenya, Rwanda, and Ghana and is recognized for its thorough understanding of the African macroeconomic landscape. As an Approved Verifier by the Climate Bonds Standard, Agusto & Co. also plays a crucial role in the verification of green bonds and other sustainable financing initiatives across the continent.

Following the acquisition, Agusto & Co. will maintain its operations as a separate ratings entity, continuing to issue its own credit ratings and methodologies in compliance with applicable regulatory requirements.

The transaction is subject to customary closing conditions, including necessary regulatory approvals, and while the specific terms of the deal have not been disclosed, it is anticipated to close in the second half of 2026. Importantly, the acquisition is not expected to materially impact the financial results of either S&P Global or its Ratings division.

As S&P Global continues to bolster its presence in Africa, this acquisition represents a strategic effort to navigate the complexities of emerging markets while supporting the development of resilient and transparent credit markets. With the potential for growth and investment opportunities in Africa, the partnership between S&P Global and Agusto & Co. is poised to play a pivotal role in shaping the continent's financial landscape in the years to come.