OPay Limited's Loan Volume Jumps 204% Amid $200M Investment

OPay Limited reported a 204% increase in loan volume during the first half of 2026, as it prepares for a proposed US initial public offering (IPO). This growth aligns with Stanbic Africa Holdings Limited, a member of Standard Bank Group, agreeing to invest up to $200 million in OPay, contingent on the completion of the IPO and regulatory approvals.

OPay's loan origination in Nigeria reached $1.56 billion for the 12 months ending June 30, 2026, with unique quarterly borrowers rising to 6.7 million in the second quarter of 2026. The company focuses on providing responsible, data-driven credit to individuals and small businesses, which has significantly boosted its earnings, with revenue increasing to $467.06 million from $197.48 million year-on-year.

However, OPay also noted a rise in expected credit loss provisions to $118.36 million, raising concerns about potential loan losses as it expands its lending operations.