<\/p>\n
Standard Bank Group is in talks to buy a stake in Opay Digital Services, as the Nigeria-focused financial technology firm prepares for an initial public offering in the US, according to people with knowledge of the matter.<\/p>\n
Opay, which is backed by Softbank Group Corp and Sequoia Capital, is working with Citigroup, Deutsche Bank AG and JPMorgan Chase & Co to help list the company in New York, said the people who asked not to be identified as the information is still private. Standard Bank is seeking to buy the stake before the IPO, the people said.<\/p>\n
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African mobile-payment companies including Airtel Africa Plc\u2019s mobile-money business and PalmPay are seeking to raise funds to expand in a region that\u2019s among the world\u2019s fastest growing. Mobile-money operators in sub-Saharan Africa handled $1.4 trillion of transactions in 2025, according to the GSM Association. That\u2019s 66% of global activity.<\/p>\n
Opay declined to comment on the matter. Standard Bank, Africa\u2019s biggest lender by assets, said it doesn\u2019t comment on market speculation, while remaining committed to delivering value to its clients across all markets.<\/p>\n
The companies haven\u2019t yet reached an agreement and there are no guarantees that the deal will be concluded, the people said.<\/p>\n
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Founded in 2018, OPay has emerged as one of Nigeria\u2019s top fintech platforms, serving as many as 50 million users, the people said. The company has become a key beneficiary of Africa\u2019s rapidly growing population and shift toward mobile payments and digital banking.<\/p>\n
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McKinsey & Co estimates that revenue at African fintechs may reach $47 billion by 2028.<\/p>\n
Opay turned profitable last year as transaction values more than doubled to $358 billion, according to a company document seen by Bloomberg. The company also operates in Egypt and Pakistan among other countries.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Standard #Bank #considers #SoftBankbacked #OPay #stake #IPO<\/p>\n","protected":false},"excerpt":{"rendered":"
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