WASHINGTON (dpa-AFX) - S&P Global Inc. (SPGI), a major financial intelligence provider, said on Tuesday that it has agreed to acquire a majority stake in Agusto & Company, a Pan-African rating agency with operations in Nigeria, Kenya, Rwanda, and Ghana. The financial terms of the transaction were not disclosed.
The acquisition is expected to be closed in the second half. This partnership aims to expand market insights, strengthen credit transparency, and support market participants across the region.
Yann Le Pallec, President, S&P Global Ratings, said: 'We are delighted to partner with Agusto & Co. to strengthen our domestic ratings presence across Africa. Africa's opportunity is extraordinary...'
Post transaction, Agusto & Company will continue to operate as a separate ratings entity and issue its own credit ratings. Agusto & Company has a strong presence in Nigeria and other key African markets, rating financial institutions, corporate, and other entities.
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