Africa’s fintech giant, Flutterwave, is preparing to raise $250 million through an Initial Public Offering (IPO)
This is a move expected to become one of Nigeria’s biggest tech listings.
According to reports, the company has invited the Federal Government to invest $75 million in the offering through the Ministry of Finance Incorporated (MoFI), as part of efforts to secure sovereign backing.
Founded in 2016 by Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya, Flutterwave provides digital payment solutions across Africa and holds a Switching and Processing Licence from the Central Bank of Nigeria (CBN).
Sources revealed that the government is currently reviewing Flutterwave’s financials through top global auditing firms before making any commitment.
The process reportedly began after a meeting between President Bola Tinubu and Flutterwave executives.
Finance Minister Wale Edun confirmed discussions with Flutterwave and MoFI.
Also, he describes the talks as a step towards strengthening Nigeria’s digital economy and boosting financial inclusion.
Analysts say the IPO could mark a defining moment for Nigeria’s fintech ecosystem.
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