Standard Bank is in discussions to acquire a stake in Nigerian fintech company OPay, with the deal targeted for completion before OPay’s planned U.S. initial public offering, according to Bloomberg. OPay is working with Citigroup, Deutsche Bank, and JPMorgan on a New York listing, while its backers include SoftBank Group and Sequoia Capital. The report said no final agreement has been reached, leaving the transaction uncertain. Founded in 2018, OPay has about 50 million users across markets including Nigeria. The company said its transaction volume doubled to $358 billion in 2025 and that it has turned profitable. It also operates in countries including Egypt and Pakistan. McKinsey estimates African fintech revenue could reach $47 billion by 2028, while mobile payments in sub-Saharan Africa have reached $1.4 trillion, or about 66% of the global total.
Standard Bank is in talks to acquire a stake in Nigerian fintech company OPay, with the transaction planned for completion before OPay’s U.S. IPO, according to Bloomberg.
OPay is working with Citigroup, Deutsche Bank, and JPMorgan on a listing in New York. The company is backed by investors including SoftBank Group and Sequoia Capital.
Bloomberg said the two sides have not reached a final agreement, and the deal remains uncertain.
Founded in 2018, OPay has about 50 million users in markets including Nigeria. In 2025, its transaction volume doubled to $358 billion, and the company became profitable. It also operates in countries including Egypt and Pakistan.
McKinsey estimates that African fintech revenue could rise to $47 billion by 2028. Mobile payments in sub-Saharan Africa have already reached $1.4 trillion, accounting for about 66% of the global total.
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