S&P Global announced on 28 July that it has agreed to acquire a majority stake in Agusto & Co., a pan-African credit rating agency with operations in Nigeria, Kenya, Rwanda and Ghana.
Why S&P Global Inc. is buying Agusto & Company Limited (majority stake)
S&P Global said the investment will support the growth of S&P Global Ratings in Africa by combining its international expertise with Agusto's local presence, aiming to strengthen credit transparency in domestic markets.
“We are delighted to partner with Agusto & Co. to strengthen our domestic ratings presence across Africa”
Deal terms and financing
Financial terms were not disclosed, and S&P Global said the deal is not expected to have a material impact on its results. Agusto will continue to issue its own ratings and methodologies under applicable regulations.
Regulatory approvals and timing
Completion is subject to customary conditions including regulatory approvals and is expected in the second half of 2026.
Market context
Agusto was established in Lagos in 1992 and became Nigeria's first locally founded credit rating agency. The deal comes as African governments and institutions criticise global rating agencies for ratings they say raise borrowing costs, an accusation the agencies reject.
