From Nigerian fintech to East African fiber, several exciting and diverse companies are emerging as IPO contenders in Africa’s rapidly growing Technology, Media & Telecommunications (TMT) sector, according to specialist news provider TMT Finance.
“Despite global volatility, regional macroeconomic uncertainty, and a rout on commodity prices, recent forecasts are predicting that the next 12 months could see a rebound with IPOs set to reach their highest levels in Africa since 2010, and several TMT companies looking likely to float in 2016 and 2017,” commented TMT Finance News Editor, Ben Nice.
“Africa Internet Group – which runs the Jumia ecommerce brand – just raised a further €75m from Orange, in addition to the recent €300m from investors including Goldman Sachs, MTN and Rocket Internet. The company is the first real African tech unicorn and we understand that it will be targeting an IPO by 2017, and is also on the hunt for a new CFO,” said Nice. “Orange Egypt (formerly Mobinil) is also preparing to list shares in Cairo to fund US$3.2bn investment into infrastructure, and IHS Towers, the Lagos-based mobile tower operator, is also expected to float over the next 12 to 24 months.”
According to TMT Finance, several other companies in Africa are also planning to conduct IPOs in the near and medium term. These include: Dark Fibre Africa of South Africa, Nigerian payment services provider Interswitch, Africa’s largest independent fiber operator Liquid Telecom, South African media company Primedia.
Over 200 industry and finance executives, including African telecom CEOs, private equity investors and leading international bankers and advisers, are meeting in London on June 14 to assess the latest opportunities for investment at the 7th annual TMT Finance & Investment Africa 2016 Conference.
Key session themes for the event include: Africa Telecom Leadership; TMT M&A; Broadband Investment; Mobile Towers; Raising Finance for Africa TMT; Datacentres Africa; Private Equity Africa; Mobile Money and M-Commerce; Digital Africa; Frontier Markets; and Protecting against Emerging Risk.
Speakers announced include key leaders from Millicom, Google, IHS, Helios, Eaton Towers, Avanti Communications, BNP Paribas, Citi, UBS, Standard Bank, IFC, the World Bank, TransferTo, Icolo, Bima, Dentons and Hardiman Telecommunications.
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- Goldman Sachs & MTN to invest $245M in Nigerian e-commerce firm Africa Internet Group (AIG)
- French telco giant Orange to invest $85 million in Nigerian e-commerce group Africa Internet Group
- Helios Towers Africa Raising almost $1B for regional expansion
- African tech startups raise record-breaking $370M in 2016: Partech Ventures (Infographic)
- 21 Nigerian tech CEOs at the top of their game
- Venture capital funding for African tech startups is really taking off – here’s why
- AXA buys 8% stake In Africa Internet Group for €75M ($85M) valuing company at over $1B
- Online retailer Jumia expanding into new markets: Uganda, Ghana and Cameroon
- Yabacon Valley: Nigeria tech startup enclave springs up in Lagos suburb
- Why you should take chances: Marek Zmyslowski, Managing Director of top African hotel booking website Jovago (Video)
- Africa’s Liquid Telecom raises $700m in bond and term-loan issue
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- Now is the perfect time to invest in Africa and its future: Jeremy Hodara, MD, Africa Internet Group (AIG)
- Nigeria’s Interswitch considers IPO dual-listing on London Stock Exchange & Nigerian Stock Exchange for Africa expansion
- Bharti Airtel to sell 1,350 towers in Tanzania to American Tower Corp
- PE Firm Providence Equity Enters Africa with Investment in Helios Towers Africa
- MTN in talks with IHS to sell South Africa towers for as much as $2 billion
- South Africa’s MTN bets on mobile banking with new CEO
- Jumia Nigeria appoints Juliet Anammah as CEO
- Africa Internet Group (AIG), operators of Jumia, Easy Taxi, Lamudi, Carmudi, HelloFood, Kaymu, and Jovago, moves offices to Yaba, Nigeria’s Silicon Valley
- Here’s what could happen if Africa’s top mobile operators and start-ups work together
- Half of the tech hubs in Africa are located in South Africa, Kenya, Nigeria, Egypt and Morocco
- Browse, click, pay: E-Commerce in Africa finds growing outlet
- Rocket Internet-Backed Jumia Raises $150M For Its African E-Commerce Business
- The web startups looking to cash in on 1 billion African consumers (Photos)
- Africa telecoms firm Eaton Towers raises $350M to fund expansion across continent
- African IPOs Set to Double Capital Raised in 2016: Baker & McKenzie (Infographics)
- Interswitch: Africa’s first ‘unicorn’?
- German tech incubator Rocket Internet, one of the parent companies of Africa Internet Group (AIG), plans 2014 IPO
- Internet retailer, Jumia Nigeria, tapping into diaspora dollars
- Armed with fintech and fueled by data: Africa’s banker of tomorrow
- MTN to invest $225M in Africa Internet Group (AIG)
- Africa’s most valuable company Naspers worth less than what it owns (Infographics)
- How Jumia Is Adapting E-Retail To Africa
- Mobile Money: The Battle for Africa
- Helios said to be working with Citigroup to sell Nigeria’s Interswitch
- Uber is coming to Kenya, following launches in South Africa, Nigeria, and Egypt
- African venture capital activity shows impressive spike in 2014
- Nigerian fintech company Interswitch could become Africa’s first startup to IPO at $1B+ valuation