Zenith Bank Plc is planning a listing on the London Stock Exchange by 2027, as the Nigerian lender seeks to broaden access to international capital and strengthen its capacity to support cross-border business.
- •The proposed listing would position Zenith among a small group of African banks with a presence in London’s capital markets, following Guaranty Trust Holding Company Plc, which previously secured a listing in the UK.
- • If completed, the move is expected to enhance Zenith’s visibility among global investors while providing a platform to raise foreign currency funding.
- •In January, the bank, which is currently Nigeria’s second-largest by market capitalization, received the Competition Authority of Kenya's nod in its bid acquire Tier III lender Paramount Bank.
Executives have indicated that the lender is exploring opportunities to finance larger transactions, particularly those linked to trade and investment flows between Africa and global markets, where access to deeper pools of capital is critical.
Zenith’s expansion efforts are also reflected in its growing footprint in the United Kingdom, including plans to extend its presence beyond London into other commercial centres such as Manchester. The bank has been building capabilities to support corporate clients engaged in cross-border trade, a segment that requires stronger balance sheet capacity and access to hard currency liquidity.
The planned London listing follows recent capital strengthening by Nigerian banks in response to new regulatory requirements introduced by the Central Bank of Nigeria. Zenith is among the lenders that have already met the revised minimum capital threshold for international banks, shifting its focus from compliance to growth and expansion.
Across the sector, Nigerian banks are increasingly looking outward as they adapt to a more volatile domestic environment marked by currency pressures and evolving regulatory standards. International listings are emerging as one of the avenues for attracting long-term institutional capital and diversifying funding sources.
Details of Zenith’s proposed listing- including its size, structure, and whether it will take the form of a primary or secondary listing- have not yet been disclosed.
