The operation, whose regulatory completion is expected in the second half of 2026, allows the group led by Yann Le Pallec to take control of a structure established in 1992 by economist Olabode Agusto. The African entity claims to have published over 4,000 company, bank, and public issuer ratings since its launch, with operations extending to Nigeria, Ghana, Kenya, and Rwanda.

The initiative echoes Moody's takeover of South African agency Global Credit Rating two years ago, confirming the interest of global giants in the regional private and banking debt segment. The transaction allows S&P to integrate local in-depth databases while maintaining Agusto's operational autonomy for delivering evaluations compliant with national regulations. The strategic deployment aims to fill the analytical coverage gap on domestic bond markets, where corporate bond issuance is increasing to offset the rising cost of traditional bank financing.

The takeover comes at a time of intense institutional tension between African chancelleries, the United Nations, and the African Peer Review Mechanism on one hand, and international agencies on the other. Governments are denouncing grids that arbitrarily inflate risk premiums and increase the cost of external borrowing on international markets. In the face of these financial constraints, the African Union is accelerating preparations for the launch of an independent pan-African agency capable of proposing an alternative evaluation methodology adapted to local economic realities.


Asaba

Tags: notation financière s&p global agusto & co marchés financiers afrique évaluation de crédit investissement marché obligataire entreprise africaine finance internationale