Dangote Refinery and Airtel Money have announced plans of their public listing for the third quarter of the year.
Aliko Dangote, President and Chief Executive of Dangote Group, revealed last Wednesday, that the refinery’s Initial Public Offering is firmly on course for September, explaining that investors demands ahead of the launch have already approached $2 billion.
On the public listing by Airtel Africa, the company had pushed back the planned listing of its Airtel money business to the second half of 2026, having originally targeted the first half of the year. The delay follows a period of financial market instability linked to the ongoing Middle East conflict.
The company’s Chief Executive Officer, Sunil Taldar stated that, “Market conditions following recent geopolitical developments have affected the anticipated timing of the Airtel Money IPO. We have made good progress and remain committed to the listing as market conditions allow.”
According to researchs, the plans say the IPO could raise between $1.5 billion and $2 billion, potentially valuing the entire mobile money business at up to $10 billion and making it one of the largest fintech listings in recent years.
The company noted that the delay has nothing to do with performance. Profit after tax surged 147 per cent to $813 million for the financial year ended March 2026, while revenue climbed 29.5 per cent to $6.4 billion.
Airtel Money’s customer base now stands at 54.1 million users across 14 African countries, up 21.3 per cent year-on-year, with annualised transaction volumes exceeding $215 billion.
Speaking during a tour of the refinery complex in Lagos, Dangote said, “We are trying to make sure that by September, we’ll be out there in the market to sell the IPO.” He also noted that, “Right now, when we even say we are going to do private placement, already we have people who have actually requested to buy. And we have an amount of almost $2 billion.”
Dangote noted that the offering is designed primarily for ordinary Nigerians and not just institutional players. “Our target really is to get the larger part of the society to buy, yes. What we are trying to do is actually bringing in people when it is at this low level and for them to have an upside. We want it to be like when you buy Amazon or you buy Apple.”
Reports indicates the company is valued at over $50 billion, with plans to offer up to 10 per cent of its shares to investors in what is expected to rank among one of the biggest capital market transactions in African history.
