Who We Are

Agusto & Co. is the foremost Pan African Credit Rating Agency and a leading provider of industry research.  Agusto & Co. started as a business information company with the long term view of gathering and providing information on economies and industries in select African countries as well as assigning risk ratings to obligors. Agusto & Co. created the credit ratings industry in Nigeria when in 1992, we commenced assigning ratings to all Nigeria’s 120 banks on an unsolicited basis for a period of 5 years until 1997, after which we commenced solicited ratings for banks and other financial Institutions. At that time, the concept of credit ratings was novel in Nigeria and across sub Saharan Africa.

The scope of our ratings has expanded to include Discount Houses, Insurance Companies, Finance & Leasing Companies, Primary Mortgage Institutions, Securities Firms, Asset Managers, Funds, Industrial Companies, Municipal bonds, corporate bonds, structured bonds and Financial Institution bonds.

Agusto & Co. was licensed in 2001 by the Securities & Exchange Commission (SEC) as Nigeria’s First Rating Agency. The Company is therefore regulated by SEC. In 2013, the Company was approved and duly registered by the Capital Markets Authorities, in Kenya and Rwanda as a Credit Rating Agency.

Agusto & Co. is also a leading provider of economic and business information. Annually, we publish reports on key industries in Nigeria and other countries in sub-Saharan Africa.  Our mission is to provide timely and relevant information to our clients on key economies in which we operate. For over two decades, Agusto & Co. has provided investors with invaluable information and sound financial analysis, promoting transparency and best practices. Our clientele base spans major international corporations as well as key domestic operators.


 Credit Ratings

We assign risk ratings to financial institutions, insurance companies, companies in the industrial & commercial sectors, state governments, funds and asset management companies that solicit ratings. Since inception, our rating opinions have provided both domestic and foreign investors with invaluable information and sound financial analysis that have aided their decision making process.

Our ratings are monitored and can be revised upwards or downwards depending on changes that occur within the organization during the validity of the rating. After completing the exercise, we publish the ratings on our website, in the newspapers and circulate to our subscribers.  Since inception, Agusto & Co has assigned over 1,500 ratings. 

Our milestones include:

  1. First Credit Rating Agency to be registered by the Securities & Exchange Commission.
  2. First credit rating agency in Nigeria to assign ratings to banks, discount houses and insurance companies.
  3. First rating agency to assign ratings to companies on the Nigerian stock exchange.
  4. Commenced operations in Kenya in 2012 as one of the two licenced rating agencies by the CMA, Kenya.
  5. First rating Agency to be licenced in Rwanda by the CMA, Rwanda

Industry Research

In addition to assigning risk ratings, Agusto & Co has established a strong reputation for producing quality research and for sound economic and risk analysis. Agusto & Co. prides itself in its ability to create outstanding value for clients based on expert knowledge of the macroeconomic environment, the financial services industry and other key industries within the economy.

As part of our Research function, we track developments and operators in key industries, which culminate in our industry reports. We have thus been able to develop a robust database that spans various sectors and players in the economy. In addition, we have developed industry rating models, which we have used in assigning industry risk ratings over the years.

Some of our flagship reports Include:

  • Asset management
  • Aviation
  • Banking
  • Breweries
  • Cement
  • Construction
  • Hotels
  • Insurance
  • Oil & Gas ( upstream & downstream)
  • Personal care
  • Pharmaceuticals
  • Power
  • Real estate
  • Rice
  • Soft drinks
  • Spare parts
  • Sugar
  • Textiles
  • Telecommunication

Credit Risk Management

Credit risk management services entail a number of products and solutions to assist Banks and other credit institutions to effectively manage credit and financial risk.

Our flagship product, the Credit Risk Model Application © (CRMA), is an automated risk rating software, which makes use of our proprietary rating models for obligors, facilities and industries.

We provide on-going training and support to our clients for the credit risk management application to ensure risk models are up to date and remain relevant. As such, we have built an excellent reputation as a risk management software and model solutions provider to major banks and other capital market operators.


Target Market Studies

Agusto & Co assist clients with studies on their target market focus. This assists clients to better understand the various markets in which they operate or intend to operate. We also support our clients with information from our existing database. 



In order to help companies understand and improve their competitive position, we encourage them to form benchmarking clubs while we help them collate and share the information. 



We assist organizations during their strategy & management sessions to review their performance and financial focus.  During the sessions, we also review the performance of the economy, politics as well as key industries. We also help in their projections and goal setting.

Our Core Values


Character that is free of doubt

Independence and impartiality of mind



Technically competent analysts

Sound financial condition

Strong internal processes

Board of Directors
The Board of Directors for Agusto & Co. Limited consists of five members:

Mr. Femi Akingbe
Olabode Agusto
Vivien Shobo
Managing Director
Isaac Babatunde
Executive Director
Yinka Adelekan
Executive Director
Careers Contact Us Disclaimer FAQs
Copyright © 2018 Agusto & Co