Rating Release

Agusto & Co. hereby upgrades the rating assigned to Emerging Africa Asset Management Limited to BBB(IM).

The rating expires on 12 July 2024.

Agusto & Co. hereby upgrades the rating assigned to Emerging Africa Asset Management Limited (‘EAAML’ or ‘Manager’) to BBB(IM). The rating upgrade reflects improvements in the Manager’s governance structure, with changes to the board composition and the establishment of additional subcommittees. The rating also reflects improvements in the investment and operational risk management processes with relevant amendments to the investment guidelines and improved documentation. We have also taken into consideration, EAAML’s experienced decision-making committees and support from a parent with interests across multiple industries within the financial services sector.