Standard Bank in Talks to Buy Stake in OPay Before IPO

In Short

• Standard Bank is reportedly in talks to acquire a stake in OPay ahead of OPay’s planned US IPO.
• The deal is not final, and the investment size and stake percentage are not yet known.
• OPay has been preparing for a public listing that has been discussed at about a $4 billion valuation.

What Happened

Standard Bank is in talks to buy a stake in OPay before the Nigerian fintech moves forward with a planned initial public offering, or IPO, in the United States.

An IPO is when a private company sells shares to the public on a stock exchange. It is a common way for late stage companies to raise capital and give existing investors a path to exit.

According to the report, the two companies have not reached an agreement. There is also no guarantee the transaction will close.

Earlier reports said OPay has been working toward a US listing later this year, with global banks expected to manage the offering. The IPO has been linked to a valuation of around $4 billion.

Why It Matters

If Standard Bank takes a stake, it would be another example of a large African bank trying to get closer to fast-growing consumer finance and digital payments platforms.

For OPay, bringing in a major banking group before listing can add credibility with public market investors. It can also help with partnerships across markets where banking licences, compliance, and distribution matter.

The talks also land in the middle of a wider debate in Nigeria about where major fintechs should list. Some local market leaders have been pushing for high-growth Nigerian companies to consider domestic listings on the Nigerian Exchange, instead of going abroad.

OPay’s recent financial momentum is part of why its IPO plans are drawing attention. The company reported a return to profit in 2025, alongside strong revenue growth and higher transaction volumes, which are key metrics public investors tend to scrutinise in fintech listings.