🇳🇬 S&P acquires majority stake in Agusto & Co

S&P Global Ratings said in July it agreed to acquire a majority stake in Agusto & Co, a Nigerian-based pan-African credit rating agency operating in Nigeria, Kenya, Rwanda and Ghana. The 85-year-old ratings agency said Agusto will continue operating as a separate ratings entity under applicable local regulatory requirements, combining S&P’s international experience with local market knowledge.

The move comes as global ratings agencies face criticism from African governments and institutions over how they assess the continent’s economies and debt risks. African countries are also set to launch their own Africa Credit Rating Agency in Mauritius in early October.

#Nigeria

🔸 Source

@africaintel