Next Wave: What’s holding back African securities exchanges?
- Flutterwave hints at going public, drawing attention to the trend of African startups seeking foreign listings.
- Only fourteen IPOs occurred in Africa in 2023, raising just $1.3 billion, compared to India's 57 IPOs raising over $7 billion.
- The Nigerian Stock Exchange has seen minimal new listings in the past decade, while the Nairobi Securities Exchange has experienced an IPO drought.
The current state of African capital markets reflects a need for innovative approaches that cater to local realities rather than mimicking Western models. Emphasizing technology and regional integration could unlock potential and foster a more inclusive financial ecosystem. Policymakers and industry leaders should prioritize creating an environment that encourages participation from all economic segments.
