By combining S&P Global’s international expertise and resources with Agusto & Co.’s strong Pan-African presence and reputation for excellence, the partnership aims to expand market insights, strengthen credit transparency, and support market participants across the region.
The transaction is subject to customary closing conditions, including receipt of required regulatory approvals. The terms of the transaction were not disclosed. Subject to obtaining all required regulatory approvals, the transaction is expected to close during the second half of 2026.
“We are delighted to partner with Agusto & Co. to strengthen our domestic ratings presence across Africa,” said Yann Le Pallec, President, S&P Global Ratings.
“This transaction underscores our commitment to supporting growth and transparency in local credit markets throughout the continent. Africa’s opportunity is extraordinary, and by combining our global expertise with Agusto & Co.’s deep local insights, together we can foster informed analysis, constructive market dialogue, and greater investor confidence both regionally and internationally.” He concluded.
Yinka Adelekan, Managing Director of Agusto & Co noted “This partnership is a transformational milestone for Agusto & Co. and African capital markets, fulfilling our late founder’s vision of affiliating with a leading global rating agency.
“For more than 30 years, we have built a trusted credit rating institution across Africa. By combining our deep Pan-African market knowledge and analytical independence with S&P Global Ratings’ global expertise, resources and affiliate network, we believe this partnership will create new opportunities, enhance value for market participants, and support the continued development of transparent and resilient credit markets across the continent.” He said.
Significance of Deal
The partnership is expected to make African credit ratings more comparable with international standards and enhance the credibility of ratings assigned to African banks, corporates and governments, making them more readily accepted by global investors.
The deal also ensures local market insights that international agencies have often struggled to capture are preserved thereby improving access to international capital for African issuers.
S&P’s technology, sector expertise and research capabilities could enable Agusto to expand coverage into under-rated segments such as infrastructure, renewable energy, fintech, municipal finance and structured products while intensifying competition among African rating agencies.
For Nigeria, where Agusto & Co. has its strongest presence, the transaction could reinforce the domestic credit rating ecosystem and support the growth of the country’s corporate debt market.
Nigerian banks, state governments and companies seeking funding may benefit from ratings that carry greater international recognition, improving their ability to access foreign capital.
The deal is however not without concerns as there are fears that greater global integration could reduce local independence or increase compliance requirements for issuers.
About Augusto&Co
Agusto & Co. is a leading Pan-African credit rating agency with a strong presence in Nigeria and other key African markets, rating financial institutions, corporates and other entities. Following the transaction, Agusto & Co. will continue to operate as a separate ratings entity and issue its own credit ratings and methodologies in accordance with applicable regulatory requirements.
