Local listing dreams fades, as 46% of tech founders desire M&A exits
- 46% of Nigerian tech founders plan to exit via acquisition within four to six years.
- Founders show a strong preference for mergers and acquisitions over local IPOs.
- The NGX's efforts to attract tech companies through a specialized board and relaxed requirements have not gained traction.
The reluctance of Nigerian tech founders to pursue IPOs reflects deeper structural and cultural issues within the ecosystem. While the NGX's initiatives are commendable, they may need to be reevaluated to better align with the needs and concerns of tech entrepreneurs. A more supportive environment could encourage more companies to consider public listings as a viable option for growth and capital raising.
