By Boluwatife Oshadiya, Capital Markets Correspondent | July 28, 2026
Key Points
- S&P Global has agreed to acquire a majority stake in Pan-African ratings agency Agusto & Co
- The transaction aims to strengthen domestic credit ratings and improve market transparency across Africa
- The deal is expected to close in the second half of 2026, subject to regulatory approvals
Main Story
S&P Global has agreed to acquire a majority stake in Agusto & Co., one of Africa’s leading credit rating agencies, in a move aimed at strengthening local credit markets and expanding its ratings business across the continent.
The transaction, announced on Tuesday, will combine S&P Global Ratings’ international expertise with Agusto & Co.’s established presence across Nigeria, Kenya, Ghana and Rwanda. Financial terms of the deal were not disclosed.
The investment represents a significant expansion of S&P Global’s African strategy as demand for transparent credit assessments and domestic capital market development continues to grow across the continent.
Agusto & Co. will continue operating as an independent ratings agency following completion of the transaction and will maintain its own rating methodologies and credit opinions in line with applicable regulatory requirements.
The acquisition remains subject to customary closing conditions, including regulatory approvals, and is expected to be completed during the second half of 2026. S&P Global said the transaction is not expected to have a material impact on its financial performance.
Agusto & Co., founded more than three decades ago, has established itself as one of Africa’s leading domestic rating agencies, providing independent credit assessments for financial institutions, corporates, infrastructure projects and public sector entities.
What’s Being Said
“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,” said Yann Le Pallec, President of S&P Global Ratings.
“This partnership is a transformational milestone for Agusto & Co. and African capital markets. By combining our deep Pan-African market knowledge with S&P Global Ratings’ global expertise, we believe we can create new opportunities and strengthen transparent credit markets across the continent,” said Yinka Adelekan, Managing Director of Agusto & Co.
What’s Next
- The acquisition will proceed through the required regulatory approval processes across the affected jurisdictions.
- S&P Global expects the transaction to close during the second half of 2026.
- Agusto & Co. will continue issuing independent domestic credit ratings while leveraging S&P Global’s global resources and affiliate network.
The Bottom Line: The transaction marks one of the most significant partnerships in Africa’s credit ratings industry in recent years. Beyond expanding S&P Global’s footprint, the deal could improve investor confidence, deepen domestic debt markets and strengthen credit transparency across Africa’s rapidly evolving capital markets.
