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S&P Global Ratings expands African reach with Agusto & Co. stake
28 Jul
Summary
- S&P Global Ratings acquired a majority stake in Agusto & Co.
- The acquisition aims to increase S&P's presence in Africa.
- Africa is considered underserved by global ratings companies.
S&P Global Ratings has secured a majority stake in Agusto & Co., a Nigerian financial services firm. This move is a strategic step intended to bolster S&P's presence and services throughout Africa.
The company views the African market as having substantial untapped potential, with current coverage by global ratings firms deemed insufficient. The acquisition of Agusto & Co. is poised to complement and accelerate S&P Global Ratings' growth objectives on the continent.
This investment signifies a commitment to enhancing financial market infrastructure and accessibility in Africa. Both S&P Global Ratings and Agusto & Co. anticipate synergistic benefits from this collaboration.
