OPay Limited's Revenue Surges to $467.06 Million in 2026

OPay Limited reported a revenue of $467.06 million for the first half of 2026, marking a 136.5% increase from $197.48 million in the same period the previous year. Profit after tax more than quadrupled to $90.87 million from $21.71 million.

The growth was primarily driven by lending, which saw income rise by 167.9% to $236.12 million, surpassing the $130.55 million generated from payment-related services. Lending accounted for 50.6% of total revenue, while payments contributed 27.9%.

OPay earns credit income through issuing its own loans in Nigeria and arranging loans funded by other lenders in Indonesia, with Nigeria accounting for about 85% of combined credit income. Despite acknowledging high interest rates on some Nigerian credit products, OPay's revenue growth was attributed to increased loan volume and a larger customer base.

Expected credit-loss expenses rose 210.3% to $118.36 million, indicating potential repayment risks. OPay has adjusted its lending strategy to focus on lower-risk merchant loans.