Nigerians attempting to buy shares in Dangote Petroleum Refinery through investment platforms Cowrywise and Bamboo faced significant access problems on Monday as heavy traffic disrupted both fintech platforms during the highly anticipated initial public offering.
Several prospective investors reported difficulties logging into the platforms, slow loading times and error messages while trying to access the offer. The disruption came as interest in owning a stake in the refinery surged following weeks of publicity around the share sale.
The problems meant some users could not complete their attempts to participate in the IPO at a time when many investors were seeking access to the offer.
Brandspur Banking News Desk understands that both Bamboo and Cowrywise acknowledged the disruption through their respective communications on X, with the platforms saying their teams were working to restore access.
Cowrywise later said its engineering team had restored access to its platform, while Bamboo continued efforts to bring its application back online.
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The incident highlighted the technical pressure that can arise when a large number of users attempt to access a digital investment service simultaneously, particularly during a major financial event that has generated substantial public interest.
For retail investors, the disruption was more than a temporary inconvenience. Users who had prepared to participate in the Dangote Refinery share offer found themselves unable to access the platforms they had expected to use when the IPO opened.
The refinery’s public offering has attracted considerable attention from Nigerian investors, with digital investment platforms playing an important role in giving retail investors access to the market.
The platform outages have consequently raised questions among users about the ability of investment fintechs to handle sudden surges in traffic during high-profile financial transactions.
While Cowrywise has confirmed that its service was restored, investors affected by the disruption will be watching Bamboo and the affected platforms for further updates as efforts continue to address the technical difficulties.
