Agusto & Co. hereby assigns an A-(IM) rating to Afrinvest Asset Management Limited.
The rating expires on 2 November 2023.
Agusto & Co. assigns an A-(IM) rating to Afrinvest Asset Management Limited (“Afrinvest AML” or “the Manager”). The rating reflects the Manager’s good governance structure, experienced and diverse decision-making committees, good research function and membership of a financial services group with over 20 years of operational track. The rating is however constrained by a very lean risk management and internal control team and investments in unrated and speculative-grade counterparties. We have also considered the weak macroeconomic environment and its potential to heighten business and investment risks.