OPay Targets $4 Billion Valuation Ahead of Planned New York IPO
Nigerian fintech company OPay is preparing for a planned New York stock market listing that could value the business at about $4 billion. According to a filing cited by Semafor, the Lagos-based firm recorded $467 million in revenue in the first half of 2026, a 137 per cent increase, while net income surged by more than 300 per cent to $91 million.
The company, which launched in Nigeria in 2018 with Chinese investment, has shifted its focus towards financial services, with lending overtaking payments as its largest source of income. OPay has applied to trade under the ticker symbol OPAY, although its final share price and listing date have not been announced.
OPay also plans to pursue a secondary listing in Nigeria, potentially giving local investors an opportunity to buy shares. Meanwhile, Standard Bank Group’s subsidiary, Stanbic Africa Holdings, has agreed to invest up to $200 million, subject to conditions, and the companies are exploring partnerships in payments, lending and other financial services across Africa.
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