Business · Companies · 3 days ago
Standard Bank plans to invest up to $200 million in OPay
Standard Bank plans to invest in OPay, a financial technology company focused mainly on Nigeria.
The investment could be worth up to $200 million and depends on OPay’s planned New York share sale going ahead and receiving regulatory approval.
The companies also plan to explore offering banking and payment services together, but those plans are not binding.
The deal could connect Standard Bank’s African banking network with OPay’s digital platform.
Standard Bank Group plans to invest up to US$200-million in Nigeria-focused fintech OPay through a private placement alongside OPay’s planned initial public offering.
The investment is subject to the offering going ahead and regulatory approval, and the bank has not disclosed the amount.
OPay filed to list American depositary shares on the New York Stock Exchange under the symbol “OPAY”.
The companies also plan to explore digital banking and other financial services in African markets, but those plans are not binding.
Standard Bank’s Lungisa Fuzile is due to join OPay’s board as a non-executive director once the placement closes.
- Who
- Standard Bank Group, through its company Stanbic Africa Holdings, plans to invest in OPay.
- What
- It will buy shares in a private placement alongside OPay’s IPO, for the lowest of three amounts, capped at US$200-million.
- When
- OPay filed to list its shares on Friday; the source does not give the calendar date.
- Where
- The shares are planned to trade on the New York Stock Exchange. OPay operates in Nigeria, Indonesia, Egypt and Pakistan.
- Why
- The companies plan to explore expanding financial services and cross-border commerce in Africa.
This story does not have two clearly opposing sides.
OPay was set up by Zhou Yahui, also known as James Zhou, in collaboration with Opera.
OPay launched payments in Nigeria after buying a local financial services provider.
OPay raised $400-million in a funding round led by SoftBank Vision Fund 2, valuing the company at $2-billion.
OPay signed a memorandum of understanding with Stanbic Africa Holdings.
OPay filed to list its shares in New York.
- Maximum planned investment
- US$200-million
- Investment vehicle
- Stanbic Africa Holdings
- Proposed exchange
- New York Stock Exchange
- Proposed ticker
- OPAY
- OPay revenue from Nigeria
- 89.5% in the first half of 2026
What people are saying
Standard Bank’s banking expertise and African footprint complement OPay’s digital financial services platform and merchant ecosystems
Together we see potential to expand access to financial services, support cross-border commerce and deliver value to clients across Africa.
Sources
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