* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, October 15, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

    Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

    Mexican singer Pedro Fernández to make Ave Fénix tour stop in Stockton. Tickets, schedule – Yahoo

    Mexican Singer Pedro Fernández Brings the Ave Fénix Tour to Stockton – Don’t Miss It!

    Flutter Entertainment’s SWOT Analysis: Uncovering the Growth Potential Amid Challenges

    Dylan Efron Shares Sweet ‘DWTS’ Rehearsal Photos Featuring His Little Sister Olivia – yahoo.com

    Dylan Efron’s Heartwarming ‘DWTS’ Rehearsal Moments with Little Sister Olivia

    Diane Keaton, Oscar-Winning Star of ‘Annie Hall’ and ‘The Godfather,’ Dies at 79 – Yahoo

    Diane Keaton, Oscar-Winning Star of ‘Annie Hall’ and ‘The Godfather,’ Dies at 79 – Yahoo

    THE VAMPIRE LESTAT Shares First Look Teaser Trailer (And It’s Fangtastic) – Yahoo

    THE VAMPIRE LESTAT Shares First Look Teaser Trailer (And It’s Fangtastic) – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

    Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

    Tracking DNA and RNA Together To Unlock Disease Insights – Technology Networks

    Unlocking Disease Insights by Tracking DNA and RNA Together

    The future of battery technology – Engineer Live

    Revolutionizing Energy: Exploring the Future of Battery Technology

    How Can Boosting Your Travel Experience with Less Technology Lead to a More Relaxing Vacation? All You Need to Know About This Latest Trend – Travel And Tour World

    How Can Boosting Your Travel Experience with Less Technology Lead to a More Relaxing Vacation? All You Need to Know About This Latest Trend – Travel And Tour World

    Davenport CornCon Cybersecurity Conference helps students explore technology, AI use – KWQC

    Davenport CornCon Cybersecurity Conference Ignites Student Passion for Technology and AI Innovations

    Inside Europe’s military technology resurgence – NBC News

    Europe’s Bold Comeback: Unveiling the Rise of Cutting-Edge Military Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

    Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

    Mexican singer Pedro Fernández to make Ave Fénix tour stop in Stockton. Tickets, schedule – Yahoo

    Mexican Singer Pedro Fernández Brings the Ave Fénix Tour to Stockton – Don’t Miss It!

    Flutter Entertainment’s SWOT Analysis: Uncovering the Growth Potential Amid Challenges

    Dylan Efron Shares Sweet ‘DWTS’ Rehearsal Photos Featuring His Little Sister Olivia – yahoo.com

    Dylan Efron’s Heartwarming ‘DWTS’ Rehearsal Moments with Little Sister Olivia

    Diane Keaton, Oscar-Winning Star of ‘Annie Hall’ and ‘The Godfather,’ Dies at 79 – Yahoo

    Diane Keaton, Oscar-Winning Star of ‘Annie Hall’ and ‘The Godfather,’ Dies at 79 – Yahoo

    THE VAMPIRE LESTAT Shares First Look Teaser Trailer (And It’s Fangtastic) – Yahoo

    THE VAMPIRE LESTAT Shares First Look Teaser Trailer (And It’s Fangtastic) – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

    Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

    Tracking DNA and RNA Together To Unlock Disease Insights – Technology Networks

    Unlocking Disease Insights by Tracking DNA and RNA Together

    The future of battery technology – Engineer Live

    Revolutionizing Energy: Exploring the Future of Battery Technology

    How Can Boosting Your Travel Experience with Less Technology Lead to a More Relaxing Vacation? All You Need to Know About This Latest Trend – Travel And Tour World

    How Can Boosting Your Travel Experience with Less Technology Lead to a More Relaxing Vacation? All You Need to Know About This Latest Trend – Travel And Tour World

    Davenport CornCon Cybersecurity Conference helps students explore technology, AI use – KWQC

    Davenport CornCon Cybersecurity Conference Ignites Student Passion for Technology and AI Innovations

    Inside Europe’s military technology resurgence – NBC News

    Europe’s Bold Comeback: Unveiling the Rise of Cutting-Edge Military Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Next Wave: Should Nigeria’s startups consider listing on its stock exchange?

January 10, 2024
in Technology
Next Wave: Should Nigeria’s startups consider listing on its stock exchange?
Share on FacebookShare on Twitter

Next Wave Logo

First published 7 January, 2024

The Nigerian Stock Market has overperformed its target since 2020 till date. Nigerian startups can take advantage of last year’s bull run to list on the Nigerian Tech Board in 2024.

Ever since the Nigerian Stock Exchange Group (NGX) secured regulatory approval for the NGX tech board from Nigeria’s Securities and Exchange Commission (SEC) in 2022, it has been very serious about getting tech startups in the country to list.

Temi Popoola, the new group managing director/CEO of the NGX, has been the key man in front of that campaign. At the end of 2023, Popoola was appointed group managing director/CEO, replacing a retiring Oscar Onyema , the former GMD of the demutualised Nigerian Stock Exchange Group (NGX). The rightness of this appointment may have been cemented by the moves Popoola made in 2023 while he was acting CEO.

Popoola’s mission at the Nigerian bourse is driven primarily by two main goals. The first is to secure tech stocks on the NGX Tech Board, and the second is to open the market to institutional and retail investors.

Popoola came close to these goals in 2023, securing three listings last year—Mecure Industries; Nigeria Infrastructure Debt Fund (NIDF); and VFD Group, a Lagos-based investment firm. All three listings contributed about ₦179 billion to the exchange’s market cap in 2023. One of the three listings, VFD Group, represented a milestone because in 2021 it invested a total of $35.6 million into three firms , including Piggytech (Nigeria’s leading savings platform). Securing this listing means that 2024 could see more tech firms cosy up to the exchange.

A deadlock on first try

In a country that has produced over 400 tech startups, the NGX tech board is eyeing the likes of major players or tech unicorns like Jumia, OPay, Interswitch, Flutterwave and Andela to lead the way in listing on the stock exchange.

In September 2023, Popoola flew to New York to have a sit-down with Nigeria’s minister of communications, innovation and digital economy, Bosun Tijani; Flutterwave CEO, Olugbenga Agboola; and the CEO of Chapel Hill Denham, Bolaji Balogun to discuss the possibility of Flutterwave listing on the stock exchange. The meeting was not widely publicised, but there is a viewing link to it. Top of the agenda at that meeting was a plea made by Popoola to Flutterwave to list. He even offered a naira listing to get the tech firm to list. Flutterwave has yet to make any commitments to the bourse.

To list or not?

It is easy to get worried about the many things that could go wrong if a tech firm goes to the IPO market. Whether a listing happens on the NASDAQ or NGX, stock prices can tank. Jumia’s shares plummeted in 2019 and it is still chasing a comeback on the New York Stock Exchange (NYSE) to the initial price of $14.50 apiece it listed with. Egyptian-born and UAE-based mobility startup, Swvl, endured a similar rocky start when it listed on the NASDAQ; its stock price fell by 99% after listing at $9.95 per share. Its recent good fortunes have seen the stock price rebound to $3, after it posted its first profit in its H1 2023 results.

At the same time,tech firms are often eager to remain private companies, as it protects them from being publicly-listed and easily investigated.

But there is much to gain from listing on the Nigerian Tech Board.

Nigeria's all share index for the past three years. Courtesy: TechCabal

Since 2020, Nigerian equities have supercharged the investment ecosystem. In that same year, Bloomberg named the exchange as the best-performing stock market from 93 global indexes. The trend has continued upward since then. Publicly available data reported by TechCabal on Friday showed that the stock market has consecutively opened the New Year since 2021 on a high. All through last year, the Nigerian stock exchange recorded a 45.9% growth, driven by oil, gas, banking and tech stocks. Around September last year, popular conversations in private spaces were that if you put ₦1 million in any tech stock, you would get at least ₦5 million, if not more. Last year, the share prices of three publicly-listed Nigerian tech companies—Chams, eTranzact and CWG—were up over 700%, according to another TechCabal report. This new year week alone, the Nigerian stock market grew 6.54% to close at a new all-time high of 79,664.66 points.
Publicly-listed Nigerian tech firms grew over 700%. Courtesy: Mobolaji Adebayo of TechCabal Insights

Although the stock exchange experienced delistings last year, it still doesn’t diminish all the positive evidence showing that a bull run has been on for the last three years; there will always be up and down times in the stock market.

Since tech is often touted as the “new oil”, a listing by tech firms on the NGX Tech Board could be a win-win that many tech unicorns in Nigeria need. More importantly, with Popoola at the helm, there is renewed hope for the tech board which can bring more foreign, institutional, and retail participants to the market.

Ventures Park ad

Only 1 week is left for startups to apply to join the second cohort of the develoPPP Ventures Program and receive €100,000 in matching funds and technical assistance.

Applications close on the 31st of December 2023. If you have any questions. Please email: [email protected]


Click here to learn more or start your application

Joseph Olaoluwa,

Senior Reporter, TechCabal.

Feel free to email joseph.olaoluwa[at]bigcabal.com, with your thoughts about this edition of NextWave. Or just click reply to share your thoughts and feedback.

We’d love to hear from you

Psst! Down here!

Thanks for reading today’s Next Wave. Please share. Or subscribe if someone shared it to you here for free to get fresh perspectives on the progress of digital innovation in Africa every Sunday.

As always feel free to email a reply or response to this essay. I enjoy reading those emails a lot.

TC Daily newsletter is out daily (Mon – Fri) brief of all the technology and business stories you need to know. Get it in your inbox each weekday at 7 AM (WAT).

Follow TechCabal on Twitter, Instagram, Facebook, and LinkedIn to stay engaged in our real-time conversations on tech and innovation in Africa.

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2024/01/09/nigerias-startups-should-list-ngx/

Tags: Nigeria’sShouldtechnology
Previous Post

No more extra charges for using 5G in Malaysia, says Comms Minister

Next Post

Drivers demand health insurance from ride-hailing firms after LagRide driver’s death

Back to school shopping? – Washington State Department of Ecology (.gov)

Back to school shopping? – Washington State Department of Ecology (.gov)

October 15, 2025
Alltech breaks ground on new crop science facility in Nicholasville – LEX18

Alltech Unveils Cutting-Edge Crop Science Facility in Nicholasville

October 15, 2025
SVC obtains $150,000 National Science Foundation grant – Saint Vincent College

SVC Lands $150,000 Grant to Fuel Innovative Research

October 15, 2025
Zhaobangji Lifestyle Holdings Approves Name Change at EGM – TipRanks

Zhaobangji Lifestyle Holdings Reveals Exciting New Name After EGM Approval

October 15, 2025
Day 5 of Gains Streak for Solidion Technology Stock with 475% Return (vs. -20% YTD) [10/14/2025] – Trefis

Solidion Technology Stock Rockets for 5th Consecutive Day, Soaring an Astonishing 475% Year-to-Date

October 15, 2025
2026 NFL mock draft: Steelers’ strategy post-Aaron Rodgers, Cowboys eye Micah Parsons replacement – CBS Sports

2026 NFL Mock Draft: Steelers’ Bold Moves Following Aaron Rodgers, Cowboys Eye Micah Parsons’ Successor

October 15, 2025
Preview: could Premier League fitness make the difference in recurve men? – World Archery

Could Premier League Fitness Transform the Future of Recurve Archery?

October 15, 2025
The $2.5 trillion ocean economy is at a crossroads. Capital must act now – Fortune

The $2.5 Trillion Ocean Economy at a Crossroads: Why Urgent Capital Investment Is Essential

October 15, 2025
Bluesman James Montgomery Will Perform In Falmouth – CapeNews.net

Blues Legend James Montgomery Ready to Ignite the Stage in Falmouth

October 15, 2025
30-year decline in Kansas health can be reversed with leadership, report finds – Kansas Reflector

30-year decline in Kansas health can be reversed with leadership, report finds – Kansas Reflector

October 15, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (868)
  • Economy (889)
  • Entertainment (21,761)
  • General (17,604)
  • Health (9,931)
  • Lifestyle (902)
  • News (22,149)
  • People (890)
  • Politics (899)
  • Science (16,100)
  • Sports (21,389)
  • Technology (15,869)
  • World (872)

Recent News

Back to school shopping? – Washington State Department of Ecology (.gov)

Back to school shopping? – Washington State Department of Ecology (.gov)

October 15, 2025
Alltech breaks ground on new crop science facility in Nicholasville – LEX18

Alltech Unveils Cutting-Edge Crop Science Facility in Nicholasville

October 15, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version