Show Notes
Aliko Dangote plans to sell about 10% of his oil-refining company on multiple African stock exchanges to help fund the next phase of the tycoon’s business empire. The IPO comes nearly five decades after a landmark share sale in Asia that went on to mint the continent’s richest person. In 1977, Dhirubhai Ambani sold shares in Reliance to thousands of domestic investors and reshaped equity culture in India. In this special episode of the Next Africa podcast, we ask whether Dangote could spark a similar transformation in Africa. Bloomberg’s Managing Editor for Africa, Arijit Ghosh and our Abuja based reporter Nduka Orjinmo join Jennifer Zabasajja to discuss what we know about the IPO, why Ambani’s IPO in 1977 was such a game changer and what needs to happen if Dangote is to have the same effect. For more stories from the region, subscribe to the Next Africa newsletter here See omnystudio.com/listener for privacy information.
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Africa’s richest man, Aliko Dangote, has finally launched the much anticipated IPO of part of his refinery business, and it's generated so much hype that many investment apps were overwhelmed by demand. The company hopes to raise as much as $2 billion from retail investors and with a minimum investment of just $4, the firm hopes ordinary Africans will buy shares. On today’s special episode, Deputy Managing Editor for Africa Neil Munshi joins Jennifer Zabasajja. They hear from Bloomberg's Lagos based reporter Yinka Ibukun about the mood among Nigerians, and then speak to analyst Feyi Fawehinmi about why he’s not convinced by the hype. Follow all our coverage of the Dangote IPO across Bloomberg platforms, and you can subscribe to the Next Africa Newsletter for more. See omnystudio.com/listener for privacy information.