Nigeria has been courting Flutterwave to list on the NGX since 2023. Can it afford the fintech?
- Nigeria has been lobbying Flutterwave to list on the NGX since 2023 to attract other startups.
- Flutterwave's last public valuation was $3 billion, making it one of the most valuable companies on the NGX.
- The NGX's rules prevent loss-making companies from going public, complicating Flutterwave's potential listing.
The situation surrounding Flutterwave's potential IPO highlights the broader challenges faced by tech startups in Nigeria's capital markets. While the government's intentions are clear, the mismatch between the startup's growth model and the NGX's requirements raises questions about the viability of such a listing. A more supportive regulatory environment and improved market conditions are essential for attracting high-growth companies to the NGX.
