S&P Expands African Footprint With Agusto Acquisition

S&P Global is expanding its presence in Africa by acquiring a majority stake in Nigerian credit-rating agency Agusto & Co. Africa holds substantial savings in pension funds, insurance assets, and diaspora capital, yet too little of this capital reaches long-term productive investment due to fragmented markets, inconsistent blended-finance structures, and a lack of common benchmarks. By acquiring Agusto, S&P plans to expand the continent’s credit markets. The expansion also comes as African governments and institutions remain critical of global ratings agencies and prepare to launch an Africa Credit Rating Agency. Agusto operates across Nigeria, Kenya, Rwanda, and Ghana. It is expected to retain separate operations due to local regulations.