Standard Bank considers stake in OPay ahead of planned US IPO
Standard Bank Group is in early-stage discussions to acquire a stake in the Nigerian fintech firm OPay. The move comes as OPay prepares for a potential US initial public offering with a targeted valuation of $4 billion.
Why it matters
This investment would signal a major consolidation in the African fintech sector as traditional banking institutions seek to capture market share in digital payments.
Standard Bank Group, South Africa’s largest lender, is in talks to acquire a stake in OPay Digital Services, a Nigeria-focused financial technology (fintech) firm, backed by SoftBank.
According to a report by Bloomberg on Tuesday, the South African banking group is seeking to buy the stake ahead of OPay’s planned initial public offering (IPO) in the United States.
People familiar with the matter said the discussions are at an early stage and may not result in an agreement.
The size and structure of the potential investment have not been disclosed.
Standard Bank and OPay did not comment on the discussions, according to Bloomberg.
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