S&P Global says it has agreed to acquire a majority stake in Agusto & Co., a Pan-African rating agency, in a move to expand its footprint in Africa’s domestic credit rating industry.
The companies announced the deal in a joint statement on Tuesday.
The investment, described as a strategic step for both companies, is expected to complement and support the growth strategy of the S&P Global ratings division in Africa.
Under the agreement, S&P Global will partner with Agusto & Co., whose operations span Nigeria, Kenya, Rwanda and Ghana.
But the transaction remains subject to regulatory approvals, the companies said.
According to the statement, the partnership is expected to support the development of Africa’s credit markets by combining S&P Global’s global expertise with Agusto & Co.’s regional knowledge and market presence.
“We are delighted to partner with Agusto & Co. to strengthen our
