Standard Bank Eyes 4.99% Stake in OPay as Fintech Plans to List on New York Stock Exchange
Emmanuel Addeh, James Emejo in Abuja and Nume Ekeghe in Lagos South Africa’s Standard Bank Group is seeking to secure up to a 4.99 per cent stake in Nigerian-focused fintech OPay
South African investment bank Standard Bank Group is seeking to acquire up to a 4.99% stake in Nigerian fintech OPay for an investment of up to $200 million. The proposed transaction would give Standard Bank a stake in one of Africa's largest digital financial services platforms, potentially opening new avenues for collaboration in payments, lending, and cross-border transactions.
OPay's financial performance has been accelerating, with revenue more than doubling in the first half of 2026 and net income rising sharply. In the six months ending June 30, 2026, revenue reached $467.1 million, up from $205.7 million in 2024, while net income increased to $90.9 million from a loss of $50.8 million the previous year.
The investment comes as OPay prepares to list its American depositary shares on the New York Stock Exchange (NYSE) under the ticker symbol OPAY. The companies have signed a subscription agreement for Standard Bank to acquire a maximum of 4.99% of OPay through a private placement, subject to completion of the offering and regulatory approvals.
Standard Bank's Chief Executive, Sim Tshabalala, stated that the bank's expertise and African presence complement OPay's digital financial services platform, creating potential for expanded access to financial services and support for cross-border commerce. The proposed investment aligns with Standard Bank's broader growth strategy.
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