Interswitch hints at listing on the Nigerian Stock Exchange

Mitchell Elegbe the CEO of the Interswitch group, Nigeria’s major e payments processor, yesterday had an exclusive tweet chat with Nairametrics.

He discussed a wide variety of issues from the company’s dominance in the e-payment sector, his relationship with Paystack and Flutterwave, new products, a possible listing on the Nigerian Stock Exchange, and the reason behind the company charging online merchants to connect to its platform.

As expected, Nairametrics asked if and when Interswitch might be listing on the Nigerian Stock Exchange. Here is how Mitchell responded.

Straight answer…Yes. We've done acquisitions in Kenya, Uganda & Nigeria, M&A is part of our growth strategy…

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— Mitchell Elegbe (@MitchellElegbe) August 3, 2017

Listing on the Nigerian Stock Exchange is not off the table

The company is not ruling out a possible listing on the Nigerian Stock Exchange, whenever private equity firms Helios, the International Finance Corporation (IFC), and TA associates decide to exit the firm.

We currently have PE firms like Helios, TA Associates & the IFC as investors…so naturally, exits at some point would be inevitable…

— Mitchell Elegbe (@MitchellElegbe) August 3, 2017

IPOs, trade sales & any other form of liquidity event are all options on the table… #interswitchceochat

— Mitchell Elegbe (@MitchellElegbe) August 3, 2017

If you missed the chat, you can follow the conversation using the hashtag #interswitchceochat.