S&P Global has agreed to acquire a majority stake in Agusto & Co, one of Africa’s leading indigenous credit rating agencies, in a strategic move to strengthen its presence in the continent’s domestic debt markets. According to Reuters, Agusto & Co will continue operating as an independent ratings agency, maintaining its own credit rating methodologies and regulatory responsibilities while benefiting from S&P Global’s international expertise and resources. The transaction, which remains subject to regulatory approvals, is expected to close in the second half of 2026, although financial terms were not disclosed.
Founded more than three decades ago, Agusto & Co has operations in Nigeria, Kenya, Rwanda and Ghana, providing credit ratings and research across banks, corporates, insurance companies, investment firms, sovereigns and debt instruments. “We are delighted to partner with Agusto & Co. to strengthen our domestic ratings presence across Africa,” said Yann Le Pallec, President of S&P Global Ratings, adding that the partnership would support growth, transparency and investor confidence in Africa’s local credit markets.
The acquisition comes at a pivotal time for African capital markets as governments increasingly seek to deepen local currency bond markets and improve access to long term financing. For businesses and investors, the partnership combines Agusto’s deep regional market knowledge with S&P Global’s global analytical capabilities, potentially enhancing credit transparency, improving risk assessment and supporting the development of more resilient domestic debt markets. The move also follows growing calls from African institutions for stronger local participation in the continent’s credit ratings industry.
Looking ahead, the transaction could reshape Africa’s credit ratings landscape by encouraging greater collaboration between global financial institutions and indigenous market players. If approved, the partnership is expected to strengthen investor confidence, improve market intelligence and support the continued growth of African capital markets as demand for transparent and credible credit assessments continues to rise.
