On Saturday, February 22, Flutterwave executives, led by CEO Olugbenga Agboola, visited President Bola Ahmed Tinubu and reportedly discussed the possibility of taking the company public on the Nigerian Exchange Limited (NGX).
“We’ve seen banks raise hundreds of billions in the past year, so it makes sense for Flutterwave to be looking at Nigeria. It’s not out of the ordinary at all,” Gbenga Magbagbeola, Managing Director of Sycamore Investment and Asset Management Ltd (SIML), tells Techpoint Africa.
Flutterwave’s management has not provided any further detail, adding to the ongoing speculation about a potential IPO for the country’s highest-rated fintech company. This also marks the second time the idea of a local listing has been raised with the first coming during an event organised by Chapel Hill Denham and the NGX, where Agboola was notably cautious when asked by Temi Popoola, CEO of the NGX, about the company’s preferred listing destination.