South Africa’s Absa Sees More Fintechs in African IPO Pipeline
- Some local markets have sizable pension pools for investing
- Nigeria, Kenya exchanges are seeking to address FX concerns
This article is for subscribers only.
One of South Africa’s biggest lenders said the time is ripe for African financial technology firms to consider public listings at home, as startups on the continent struggle to raise venture capital amid a global slump.
An initial public offering on a local exchange could make sense as an exit option for shareholders of fintechs that generate most revenue in a single local currency, according to Absa Group Ltd.’s Adesoji Solanke.