S&P Global is set to acquire a majority stake in Agusto & Co., a move that signals continued expansion of the US financial services provider's operations in Africa.
The transaction was reported by Nairametrics on Monday.
The acquisition aligns with a broader strategy by S&P Global to increase its presence in the region.
The company has previously moved to deepen its footprint in Nigeria by acquiring two local member firms, according to earlier Handelsavisen coverage.
Agusto & Co. is a prominent Nigerian financial services firm, and the stake purchase is expected to bolster S&P Global's market intelligence and advisory capabilities in West Africa.
This development comes as global financial institutions increasingly view Africa as a growth market for credit ratings and financial data services.