PANews
PANews|Aug 18, 2026 12:27
[Standard Bank in Talks to Invest in OPay, Betting on Its U.S. IPO Prospects] According to Bloomberg, Standard Bank is in discussions to invest in Nigerian fintech company OPay, aiming to complete the deal before its U.S. IPO. OPay, backed by SoftBank Group and Sequoia Capital, is working with Citigroup, Deutsche Bank, and JPMorgan Chase to advance its listing in New York. Sources indicate that no final agreement has been reached, and the transaction remains uncertain. Founded in 2018, OPay has approximately 50 million users across markets like Nigeria and is projected to double its transaction volume to $358 billion by 2025 while achieving profitability. The company is also operating in countries such as Egypt and Pakistan. McKinsey estimates that Africa's fintech revenue could grow to $47 billion by 2028, with mobile payments in Sub-Saharan Africa already reaching $1.4 trillion in transaction volume, accounting for about 66% of the global total.
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