Standard Bank Moves to Take Stake in OPay Ahead of US IPO
Nume Ekeghe with agency reports South Africa’s Standard Bank Group is in talks to acquire a stake in Nigerian fintech company, OPay Digital Services, ahead of the payments company’s planned
South Africa's Standard Bank Group is reportedly in discussions to acquire a stake in Nigerian fintech company, OPay Digital Services, with the aim of gaining a position in the payments firm prior to its planned US IPO, according to Bloomberg. The banking group is seeking to purchase the stake ahead of the IPO, although the exact size of the proposed investment and stake percentage remain undisclosed.
Sources close to the situation told Bloomberg that Standard Bank is aiming to acquire the stake before the OPay initial public offering, which could occur later this year. OPay, backed by SoftBank Group and Sequoia Capital, is working with Citigroup, Deutsche Bank, and JPMorgan Chase to facilitate its listing in New York. The fintech's operations have expanded significantly, processing $358 billion in gross transaction value (GTV) in 2025 – a 115% increase from $166.2 billion in the previous year.
Monthly active users also surged 57% to 39.3 million in 2025, while daily active users rose 50% to 22.7 million. These figures underscore OPay's substantial presence in Nigeria as it gears up for a potential US IPO that could value the company at around $4 billion.
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