A global surge in initial public offerings has so far eluded sub-Saharan Africa. Companies have raised a record $467-billion on the world’s stock exchanges during the first eight months of this year, according to data compiled by Bloomberg. Yet in Johannesburg, home of Africa’s largest bourse, 21 companies have instead de-listed in 2021. Smaller exchanges in Accra, Nairobi and Lagos have been similarly quiet.
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