S&P Global to Acquire Majority Stake in Agusto & Company
S&P Global has announced its agreement to acquire a majority stake in Agusto & Company, a prominent pan-African ratings agency with operations in Nigeria, Kenya, Rwanda, and Ghana. This strategic investment underscores S&P Global Ratings’ commitment to enhancing its business footprint in Africa.
Expansion of Market Insight and Credit Transparency
The partnership aims to marry S&P Global’s international expertise with Agusto & Company’s established presence and strong reputation across Africa. Together, they plan to enhance market insight, bolster credit transparency, and support stakeholders in the region, thereby promoting the overall health of financial markets.
S&P Global’s Commitment to Local Credit Markets
Yann Le Parec, president of S&P Global Ratings, expressed enthusiasm about the collaboration, noting, “This transaction emphasizes our dedication to the growth and transparency of local credit markets on the continent. Africa’s vast opportunities require us to combine global insights with localized knowledge, thereby fostering informed analysis and constructive dialogues that can bolster investor confidence both regionally and globally.”
Transformational Milestone for Agusto & Company
Yinka Adelekan, Managing Director of Agusto & Company, remarked on the significance of this partnership. He described it as a transformative milestone for both the firm and the African capital markets, fulfilling the vision of their late founder to collaborate with a leading global ratings agency.
Agusto & Company’s Legacy and Continued Independence
Founded in 1992 by Nigerian economist and Certified Public Accountant Olabode Agusto, the company stands out as Nigeria’s first credit rating agency. Agusto & Company has earned its credibility over more than three decades by providing thorough assessments of financial institutions, businesses, and other entities throughout Africa. Following the acquisition, it will maintain its operations as an independent ratings entity while adhering to applicable regulatory standards.
Regulatory Approvals and Timeline for Completion
The acquisition remains subject to customary closing conditions, including the necessary regulatory approvals. While specific terms of the transaction have not been disclosed, it is anticipated to finalize in the latter half of 2026, assuming all regulatory requirements are met.
Financial Implications of the Acquisition
S&P Global has stated that this transaction is not expected to materially impact its financial results or those of S&P Global Ratings. This acquisition not only signifies growth for the involved parties but also reinforces the overarching mission of increasing transparency and resilience in credit markets across Africa.
