Could Dangote's Stock Listing Transform African Investing?
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Could Dangote's Stock Listing Transform African Investing?
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Summary
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.
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