Standard Bank is in talks to invest in OPay and intends to bet on its IPO prospects in the United States

According to Bloomberg, Standard Bank is in talks to invest in Nigerian fintech company OPay and plans to complete the transaction before OPay's IPO in the United States. OPay is supported by SoftBank Group, Sequoia Capital, and is collaborating with Citigroup, Deutsche Bank, and JPMorgan Chase to promote its listing in New York. The two parties have not yet reached a final agreement. OPay was founded in 2018, with approximately 50 million users and a transaction volume of $358 billion by 2025, achieving profitability. McKinsey expects Africa's fintech revenue to increase to $47 billion by 2028, with mobile payments reaching $1.4 trillion in transaction volume in sub Saharan Africa.