Can IPOs Be The Fundraising Strategy For African Startups?

November 6, 2020

A little-known Kenya-based music streaming startup that has made less than USD 1 Mn in its entire 7-year existence bags USD 6.4 Mn via an Initial Public Offering (IPO) in faraway Denmark. It’s not fiction, it happened in September this year, though, quite strange.

But some context could perhaps make it less strange. Yes, IPOs involving African-based technology companies looking to list in major global stock exchanges are still as rare as rarity can get.

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