Standard Bank Group Targets 4.99% Stake in OPay

Standard Bank Group is seeking to acquire up to a 4.99% stake in Nigerian fintech OPay for a maximum investment of $200 million, aligning with OPay's plans to list on the New York Stock Exchange. This investment is part of a subscription agreement signed by Stanbic Africa Holdings, a subsidiary of Standard Bank Group, to acquire shares through a private placement alongside OPay's initial public offering, pending regulatory approvals.

OPay's financial performance has seen substantial growth, with revenue more than doubling in the first half of 2026, reaching $467.1 million, and net income rising to $90.9 million. Nigeria accounted for 89.5% of OPay's revenue during this period.

The investment will be capped at the lowest of $200 million, 0.98% of Standard Bank Group's qualifying regulatory capital, or the value of a 4.99% interest in OPay based on the IPO price. OPay reported 50.1 million monthly active users and a gross transaction value of $339.1 billion in the first half of the year.