OPay Eyes $4 Billion US IPO Amidst Fintech Boom

Nigeria-based fintech giant OPay is preparing for a potential initial public offering (IPO) in the United States later this year, targeting a valuation of approximately $4 billion. This move would make OPay one of the few venture-backed Nigerian tech companies to list on a US exchange, following Jumia and Swvl.

The IPO will be managed by Citigroup, Deutsche Bank, and JPMorgan Chase, with OPay bringing in experienced leadership like CFO James Perry, who has over 25 years of experience in investment banking. A $4 billion valuation would represent significant growth from the company’s previous rounds:

• August 2021 Series C: Valued at $2 billion
• Opera Limited stake (as of December 2025): Implied valuation of $3.1 billion

This IPO comes as African fintech revenue is projected to reach $47 billion by 2028, driven by increased digital payments and financial inclusion across the continent. However, OPay will need to navigate challenges like currency volatility (the naira has lost 70% of its value since 2023) and intense competition from rivals like Moniepoint, Kuda, Paga, and PalmPay.

Meanwhile, Standard Chartered Bank Kenya continues its strategic shift towards wealth banking, reducing staff headcount to 942 in 2025—the 11th consecutive year of reductions. The bank maintains it’s optimizing operations through digitization and focusing on high-net-worth clients.