Nigeria’s leading Credit rating agency, Agusto & Co Ltd., is to extend its services to Rwanda and some other African countries, according to a statement from the Lagos-based organisation.
The statement, made available to PANA here Thursday, said the firm would also be involved in other research-focused services in the East African country.
The firm said its entry into Rwanda was due to the country’s improving economy and impending changes to regulations.
The company has obtained a credit ratings agency licence from the Capital Markets Authority in Rwanda to pave the way for it to start operations.
By extending its services to Rwanda, the company said it seeks to replicate its achievement in Nigeria in the past 20 years by providing globally-accepted ratings and reports for business benchmarks.
Rwanda’s economy is among the fastest growing in the East African region and sub-Saharan Africa, growing at an average of 7% in the last five years.