GO
Loading...

Could the next telco IPO come from Africa?

With stock markets overflowing with new offerings and major merger deals, Bassim Haidar, the founder, chairman and CEO of Channel IT Group, has indicated that his successful African telecoms company could be ready to get in on the action.

The company is currently being offered "fantastic" deals by banks, he told CNBC Friday, although he remained coy on whether the company will officially be floated on a stock exchange.

"The business is very mature now that towards October, November this year we start to look into this. We start to look at potential investors coming into the business," he said.

Read MoreTelcos battle to stifle Whatsapp march

"Right now we're really being approached by many investors."

Haidar was unsure which financial center the company would choose for any possible flotation, adding that he was currently in a waiting period. He said that he would prefer working with banks and would help them to make more money in the long term rather than them just gaining a simple one-off fee for their services.

BlackBerry remains the most popular smartphone on the African continent.
Getty Images
BlackBerry remains the most popular smartphone on the African continent.

The group offers a range of services for telecommunications and mobile and was originally focused on the Nigerian market before spreading to other areas in the region. The company website states that it is Africa's largest independent distributor of mobile network solutions.

Read MoreOMG—Is this the end for texting?

Nigeria - predicted to have a bigger population than the U.S. by 2050, according to the United Nations - has had its fair share of negative headlines, with reports of corruption. However, Haidar told CNBC that he wasn't afraid of "high-risk" investments and that that the "high returns" and huge demand helped outweigh any negativity.

Featured

Contact Mobile

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Squawk Alley