Africa Plus rated “BBB+(IM)” by Agusto & Co.

gusto & Co has assigned a BBB+(IM) rating to Africa Plus Partners Limited (APPL or ‘the Manager’). The rating assigned to APPL is supported by the Manager’s highly qualified and well-experienced investment committee, good governance structure around the Fund and the well-established deal selection and decision-making process.

The rating is constrained by the absence of an internal audit function, overlapping functions amongst core staff and the Manager’s limited track-record in the Nigerian asset management industry.

APPL is a specialist asset management company with a focus on small to medium scale infrastructure projects.