Standard Bank discusses taking a stake in OPay, planning to bet on its prospects for an IPO in the U.S

According to Bloomberg, Standard Bank is negotiating to acquire a stake in Nigerian fintech company OPay, with plans to complete the transaction before its IPO in the U.S. OPay, supported by SoftBank Group, Sequoia Capital, and others, is working with Citigroup, Deutsche Bank, and JPMorgan to advance its listing in New York. Reports indicate that the two parties have not yet reached a final agreement, and the transaction carries uncertainties.

Founded in 2018, OPay has approximately 50 million users in markets such as Nigeria, with plans to double its transaction volume to $35.8 billion and achieve profitability by 2025. It is also operating in countries like Egypt and Pakistan.

McKinsey estimates that Africa's fintech revenue could reach $47 billion by 2028, with mobile payments in sub-Saharan Africa reaching $1.4 trillion, accounting for about 66% of the global total.