Bayport Management, an African consumer lending company, is considering a London listing in the first half of 2020 that could value it at around $800 million, three sources familiar with matter said.

Bayport, which provides loans primarily to government employees, has hired Citi, JP Morgan and Standard Bank as joint global coordinators for the deal, two of the sources said.

The company, founded in 2002 by co-chief executives Stuart Stone and Grant Kurland, is also active in insurance. It has a technical listing on the Mauritius Stock Exchange, but its shares aren't traded.

"The board is considering a number of strategic options, one of which could include an IPO (initial public offering)," a company spokeswoman said.

"We do have financial advisers, but we haven't made a decision yet, and it's too early for me to talk about a valuation range."

She declined to give further details, but said Bayport's strength was in the geographical diversity of its operations and in the fact it targets government employees and civil servants, who tend to have more job security than private sector workers.

Citi and JP Morgan did not immediately respond to requests for comment. Standard Bank could not immediately provide a comment outside of usual business hours.