South Africa’s Standard Bank Group is reportedly in discussions to acquire a stake in Nigerian financial technology company OPay Digital Services before the fintech proceeds with a planned listing in the United States.
The potential transaction would give Standard Bank exposure to one of Nigeria’s largest digital payments businesses before OPay seeks to raise capital on the US market.
People familiar with the talks told Bloomberg that discussions were ongoing, although the size of the proposed investment and the percentage stake being considered had not been disclosed.
The move comes as OPay advances preparations for what could become one of the most significant African fintech listings in the United States.
OPay has reportedly appointed Citigroup, Deutsche Bank and JPMorgan Chase to work on the planned offering in New York.
The company is said to be targeting a valuation of about $4 billion, with a possible listing later in 2026, although the timing remains subject to market conditions and regulatory processes.
OPay is backed by major global investors including SoftBank Group and Sequoia Capital.
The company has grown into a major digital financial services platform in Nigeria, offering transfers, payments and other services to consumers and businesses.
Its operating scale expanded sharply in 2025.
Gross transaction value reached $358 billion during the year, more than double the $166.2 billion recorded in 2024.
That represented growth of about 115 per cent.
Monthly active users rose by 57 per cent to 39.3 million from 25.1 million a year earlier.
Daily active users also climbed to 22.7 million in the fourth quarter of 2025, a 50 per cent increase, pushing the ratio of daily to monthly active users to 57.8 per cent.
Those figures underline OPay’s growing role in Nigeria’s digital payments market and strengthen the commercial case for the proposed US listing.
Any investment by Standard Bank would remain subject to completion of negotiations and other applicable approvals.
