Standard Bank in talks for OPay stake

Standard Bank, Africa's largest bank by assets, is in early-stage discussions to acquire a stake in OPay Digital Services, a Nigeria-focused fintech, ahead of OPay's planned US initial public offering (IPO). The potential investment, reported by Bloomberg, would give Standard Bank exposure to one of Nigeria's largest digital payments platforms and provide OPay with backing from a major institutional investor as it prepares for a listing that could value the company at about $4 billion. OPay is working with Citigroup, Deutsche Bank, and JPMorgan Chase on the proposed IPO. The talks are preliminary and may not lead to an agreement; the size and structure of any investment have not been disclosed. OPay, backed by SoftBank Group and Sequoia Capital, has shown strong growth, with gross transaction value more than doubling to $358 billion in 2025, revenue surging 161% to $536.25 million, and a return to profitability with a net profit of $72.47 million. Nigeria remains OPay's dominant market, accounting for 88.1% of its 2025 revenue. The potential investment reflects a broader trend of traditional banks investing in African fintechs to gain technology and customer reach. The proposed US listing has sparked debate in Nigeria, with Nigerian Exchange Group CEO Temi Popoola urging President Bola Tinubu to encourage local listings.