Nigerian 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. The move would make it one of the few venture-backed Nigerian tech companies to list on a major US exchange, following Jumia and Swvl.
The IPO will be led by Citigroup, Deutsche Bank, and JPMorgan Chase & Co., with OPay aiming to avoid the fate of previous African tech hopefuls whose valuations have since declined. The company has been strategically positioning itself for this milestone, hiring James Perry as CFO in December 2025 with over 25 years of experience in investment banking.
This valuation would represent a significant increase from OPay’s $2 billion Series C funding round in August 2021. Even Opera Limited, an early investor, valued its stake at $294.6 million by 2025, implying a total company valuation of around $3.1 billion.
Analysts note that while the Nigerian fintech sector has shown promise with successful exits like Paystack and Moniepoint, OPay will need to navigate challenges such as currency fluctuations (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 restructuring with further headcount reductions. The bank ended 2025 with 942 employees, down from over 2,000 in 2014, as part of a strategic shift toward wealth banking and digital solutions.