Rating Release
Agusto & Co. hereby upgrades the rating assigned to Emerging Africa Asset Management Limited to ‘A-(IM)’
The rating expires on 14 August 2026
Agusto & Co. hereby upgrades the rating assigned to Emerging Africa Asset Management Limited (“EAAML” or “the Manager”) to ‘A-(IM)’. The upgrade reflects improvements in the risk surveillance process and the composition of fund management and risk management teams. We also view positively, the upgrade to the portfolio management software to automate pre-trade checks, an improvement from the prior period where checks were conducted manually on MS Excel. The rating also reflects EAAML’s adequately documented investment and risk management policies, experienced decision-making committees and support from a parent with interests across multiple industries within the financial services
sector. However, the rating is constrained by the limited research tools and suboptimal board committees. We have also taken into consideration the weak macroeconomic environment and its capacity to elevate investment and operational risks.
