Nigerian digital payments company Interswitch should proceed to a dual-listing on the London and Lagos stock markets sometime between Q2 and Q4 2016, credible sources reveal.

The transaction was announced in June 2015 by the firm’s CEO and founder, Elegbe Mitchell. “We are looking at doing an IPO. We’re looking at U.K and Nigeria. Our Industry is one that investors love. They understand it,” he said at the time.

Technically, the transaction should be an exit for Helios Investment, the company’s main shareholder. This would make it the biggest IPO ever for an African tech firm. In June 2015, talks with Bank of America, Standard Bank and Barclays Plc were in fact initiated to this effect.

Interswitch now says the listing is one in many exit options. “We’re also looking at the possibility for our investors to sell their shares in our firm’s capital,” Mr. Mitchell said.

Asides Nigeria, Interswitch is also present in Tanzania, Uganda, Kenya, and Gambia and it is now looking to finance its expansion in countries like Cameroon, DR Congo and Ghana.

Idriss Linge