TechCabal Daily – Dangote IPO heads south

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Dangote’s refinery could also be sitting in Lagos, however it’s turning its preliminary public providing (IPO) right into a pan-African roadshow, and southern Africa is getting its personal entry level.

What occurred? The Southern African Development Community (SADC) Committee of Stock Exchanges has selected Botswana because the host buying and selling venue for buyers within the area who need to entry the Dangote Petroleum Refinery and Petrochemicals IPO. SADC is a regional bloc of 16 southern African international locations, and its capital-market committee brings collectively the area’s inventory exchanges. 

The thought is to keep away from every market constructing its personal separate association for a similar Nigerian share supply. Botswana’s inventory change will function the frequent venue, whereas Access Bank Botswana will act as the country’s depository receipt issuer.

Explain like I’m new right here: Aliko Dangote’s oil refinery needs to situation 4.1 billion shares to boost ₦2.15 trillion ($1.6 billion) from the capital markets. The firm says investor curiosity has already been oversubscribed by greater than three or 4 occasions. Yet, on Tuesday, it prolonged the supply to October 27 to provide extra (pan-African) buyers time to take part.

How does a Botswana investor purchase a Nigerian refinery? Investors can achieve publicity by Botswana Depository Receipts (BDRs)—certificates that signify shares in an organization listed out of the country. Kenya received its personal route earlier this month after its Capital Markets Authority (CMA) approved a Global Depository Receipt (GDR) construction. Renaissance Capital Kenya is arranging the GDRs, which signify shares in Dangote Refinery and are meant to commerce on the Nairobi Securities Exchange.

What about Zimbabwe? Zimbabwe can also be a SADC nation, however Bard Santner Investors, an asset supervisor, had already created a route for Zimbabwean buyers earlier than the Botswana announcement. The asset supervisor is facilitating purposes domestically, transferring purchasers’ funds by Ecobank Zimbabwe to Ecobank Nigeria and utilizing Ecobank Nigeria’s nominee construction to carry the shares and submit purposes. 

However, Botswana turning into the SADC host doesn’t erase that association. It means the area now has a delegated marketplace for the IPO, whereas Zimbabwe already has a separate native facilitation route in place. Dangote’s pan-African IPO continues to be gathering momentum, with extra African markets discovering methods to let their buyers in.

There are some ways to earn cash from an preliminary public providing (IPO). Buying the shares is just one of them.

Quickmart’s homeowners will spend about KES 575.6 million ($4.5 million) to checklist the grocery store chain on the Nairobi Securities Exchange (NSE), in keeping with native publication Business Daily. The cash will go to funding banks, legal professionals, accountants, regulators, entrepreneurs and the opposite companies required to take a non-public firm public.

What occurred? Professional advisers, together with SBG Securities, Stanbic Bank and Dyer & Blair, will share about KES 476.2 million ($3.7 million). Another KES 70 million ($542,000) goes to advertising and marketing, whereas the Capital Markets Authority and NSE will acquire about KES 24 million ($186,000).

Explain like I’m new right here: Quickmart, the Kenyan retailer, has filed to go public. Its sole shareholder, Sokoni Retail Kenya, is promoting two billion present shares, 50% of the corporate, at KES 7.50 ($0.058) every. So the KES 15 billion ($116 million) raised goes to Sokoni, which additionally pays the IPO invoice. After charges, it ought to go away with roughly KES 14.4 billion ($111 million).

Between the strains: The charges work out to about 3.8% of the supply, or KES 0.29 ($0.002) for each share offered. That is the worth of making liquidity for Quickmart’s present homeowners and turning their non-public stake into one thing 1000’s of buyers can purchase and commerce.

A broader enterprise can also be forming round Kenya’s return to listings. Advisers and regulators earned KES 2.99 billion ($23.1 million) from the Kenya Pipeline IPO, whereas Family Bank paid KES 77.2 million ($598,000) merely to checklist by introduction.

Zoom out: Quickmart’s supply closes on October 30, with buying and selling anticipated to start on November 12. If Kenya retains producing IPOs, the winners won’t solely be firms and buyers. The companies paid to get these offers over the road are constructing a pleasant enterprise too.

Kenya has spent virtually three years fixing a label that doesn’t cease cash from transferring in and in a foreign country, however could make each motion dearer to clarify.

What occurred? Kenya’s Financial Reporting Centre says the nation has now completed 19 of 21 action items required by the Financial Action Task Force (FATF), the worldwide monetary watchdog, clearing six up to now two and a half months. The nation goals to exit the gray checklist by April 2027.

Explain like I’m new right here: FATF placed Kenya under increased monitoring in February 2024 after a 2022 overview discovered weaknesses throughout its anti-money laundering system. The unique motion plan lined all the pieces from supervising banks and different monetary companies to figuring out firm homeowners, bettering suspicious transaction experiences, regulating crypto firms, and truly turning monetary intelligence into money-laundering investigations and prosecutions.

Kenya has chipped away at that checklist. It passed rules for digital asset suppliers in 2025 and issued regulations for operators in July 2026; strengthened terrorism-financing investigations; and up to date its nationwide threat framework. By June, FATF was nonetheless asking for improvements in seven broad areas, together with useful possession, monetary intelligence, and prosecutions.

Between the strains: Grey-listing doesn’t robotically power international banks or fintechs to cease serving Kenya. FATF explicitly says establishments ought to use a risk-based approach relatively than lower international locations off. But compliance groups nonetheless worth nation threat into their selections. More questions, extra paperwork, and extra monitoring can sluggish Kenyan transactions or make them dearer.

Europe provides one other layer. Since August 2025, Kenya has additionally been on the European Union’s (EU) list of high-risk countries, requiring European banks and different regulated companies to use additional checks.

This is the place an exit might repay in follow. It won’t immediately reverse each service restriction Kenyan freelancers and businesses have faced from PayPal, Sendwave, and different international platforms. Those firms have cited completely different causes for his or her selections. But it removes one country-level threat flag when banks, cost firms, and buyers determine how deeply they need to function in Kenya.

What to look at: Kenya can full all 21 gadgets and stay on the checklist for some time. FATF must first agree that the motion plan is considerably full, conduct an on-site evaluation, after which approve removing at a plenary. Nigeria and South Africa went by that course of earlier than leaving the grey list in October 2025.

The Tanzania Communications Regulatory Authority (TCRA), the nation’s telecom regulator, has given Internet service providers (ISPs) 30 days to repair issues with their fibre-optic installations. During inspections, the regulator mentioned it discovered leaning poles, cables hanging too low, and infrastructure with out markings displaying who owns it. Damaged fibre could cause extended Internet outages for everybody related to these networks, and TCRA isn’t prepared to take that threat.

Explain like I’m new right here: Tanzania’s telecom operators are laying extra fibre as a result of demand for extra dependable Internet is rising. State-owned Tanzania Telecommunications Corporation (TTCL) is expanding its fibre network and plans to achieve 1 million households by June 2028. Yas Tanzania, one of many nation’s main operators, can also be expanding its home fibre service past Dar es Salaam, Tanzania’s capital metropolis, with plans to attach as much as 100,000 households in Zanzibar inside three years. More fibre means extra cables and different infrastructure alongside roads and buildings, and the extra infrastructure that goes up, the extra there’s to keep up.

Why are they doing this? As of March 2026, Tanzania had about 590,000 fixed-Internet subscriptions. Wireless connections nonetheless made up most of them, however practically 199,000 had been wired connections, together with fibre. As that quantity grows, the standard of the bodily community turns into simply as necessary as how a lot fibre operators can lay. A sooner Internet community is ineffective if the cable carrying it’s hanging low sufficient to be caught by a truck. 

TCRA can also be pushing operators to share infrastructure relatively than repeatedly putting in their very own poles and ducts. Its 2026 fibre deployment guidelines require operators to think about sharing present infrastructure when putting in new poles and ducts. The regulator’s 30-day deadline goals to make sure the nation’s fibre increase doesn’t create an even bigger upkeep drawback down the street.

The World Wide Web3

Source:

Coin Name	Current Value	Day	Month
Bitcoin	$80,992	– 3.00%	+ 4.60%
Ether	$2,358	– 5.81%	– 5.21%
XRP	$1.30	– 4.93%	– 7.26%
Solana	$102.15	– 4.79%	+ 1.30%

* Data as of 06.36 AM WAT, October 15, 2026.

Written by: Emmanuel Nwosu and Yemi Kareem

Edited by: Emmanuel Nwosu & Ganiu Oloruntade