Rating Release
Agusto & Co. upgrades the rating assigned to Emerging Africa Asset Management Limited to BBB+(IM).
The rating expires on 27 August 2025.
Agusto & Co. upgrades the rating assigned to Emerging Africa Asset Management Limited (“EAAML” or “the Manager”) to BBB+(IM). The rating upgrade reflects improvements in the composition of key teams that had hitherto been understaffed, technology adoption in the management of operational risk and the establishment of a board committee in the review period. The rating is also upheld by the Manager’s 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 automation of pre-trade checks and the lean composition of the fund management team. We have also taken into consideration the limited adherence to documented guidelines and frequent changes in the composition of key teams which could impair strategy implementation.
