Why Nigerian Startups Are Avoiding Local IPOs
Plus: South Africa gets ready to go nuclear and Meta completes sea cable project
Nigerian startups are steering clear of listing on the country’s stock exchange — and the weak naira is the biggest culprit.
A new survey by African-focused law firm TLP Advisory shows founders overwhelmingly see the Nigerian Exchange (NGX) as too risky for exits or fundraising, despite the creation of a tech-friendly listing board meant to attract high-growth companies.
In The News This Week:
South Africa Pushes Ahead with New Nuclear Build, Revives Modular Reactor Plans
South Africa is moving forward with a new nuclear power plant and restarting its long-dormant modular reactor program, Electricity Minister Kgosientsho Ramakgopa said — a major step in the country’s long-term push to stabilize its power supply.
Ghana Approves ‘Dig Once’ Policy to Fast-Track Digital Infrastructure
Ghana’s Cabinet has approved a landmark “Dig Once” policy requiring fibre-optic ducts and access chambers to be built into all new road projects — a move officials say will transform the country’s digital infrastructure landscape.
ALX, Anthropic and Rwanda Launch Landmark AI Learning Initiative
ALX, Anthropic, and the Government of Rwanda have unveiled a major partnership to bring AI-driven learning to classrooms across Africa, introducing “Chidi,” an AI-powered learning companion built on Anthropic’s Claude model.
In Other News
Starlink, Vodacom Strike Major Deal to Boost Rural Connectivity Across Africa
Google launches AI Skilling Blueprint to Accelerate Africa’s AI Workforce
Paystack Suspends Co-Founder Ezra Olubi Amid Sexual Misconduct Allegations