Bamboo Faces Login Issues Amid Dangote IPO Surge

On September 14, 2023, Bamboo, a digital investment platform, experienced significant login difficulties as a surge of users attempted to access the platform for the Dangote Refinery and Petrochemicals FZE public offer. The company attributed the disruption to traffic that exceeded expectations, stating on its official X account, “Hey everyone, we’re getting a much higher-than-expected traffic trying to get into the Dangote IPO, and it’s making it difficult for some users to log into the Bamboo app.” Bamboo's technical team is actively working on a solution, although no specific timeframe for full restoration was provided.

This disruption occurred shortly after the Dangote Refinery launched its Initial Public Offering (IPO), valued at N2.15 trillion, which is one of the largest equity offerings in Africa. The IPO consists of 4.1 billion new ordinary shares priced at N525 each, with a minimum subscription requirement of 10 shares at N5,250.