OPay hires Citi, Deutsche, JPMorgan for $4 billion US IPO
On Techpoint Digest, we discuss OPay's $4 billion US IPO push, Wimbart's 10-year journey in African tech, and South Africa's red tape problem.
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Zdravo,<br />
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Victoria from Techpoint here,<br />
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Here’s what I’ve got for you today:<br />
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OPay targets $4B in US IPO push<br />
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Wimbart’s 10-year journey in African tech<br />
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South Africa’s red tape problem gets attention<br />
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OPay targets $4B in US IPO push<br />
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On May 1, 2026, talk of the town was that OPay tapped Citigroup, Deutsche Bank, and JPMorgan Chase to lead a planned US IPO, targeting a valuation of around $4 billion. Nothing has been filed publicly yet, but bringing in those three banks is a clear signal: this isn’t casual exploration; it’s serious preparation for the global stage.<br />
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Bringing in three heavyweight global banks isn’t just about optics. It’s a signal that OPay is gearing up for the kind of scrutiny that comes with listing in the US. Add to that the company’s recent hiring of experienced international executives, including a former Citigroup managing director as CFO, and it’s clear this isn’t a casual step. OPay is positioning itself to meet the governance and transparency standards global investors expect.<br />
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That $4 billion figure is getting attention, but it only makes sense with context. OPay was valued at $2 billion in 2021 and has been climbing steadily since, with estimates putting it above $3 billion by the end of 2025. Today, it’s one of Nigeria’s biggest fintech platforms, offering transfers, bill payments, savings, and merchant services through a network of over 500,000 agents and tens of millions of users. The valuation isn’t just about where OPay is now but a bet on where Nigeria’s digital economy is heading.<br />
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The timing is also telling. Africa’s fintech sector has been waiting for a proper public market moment for years. Since Paystack’s $200 million exit to Stripe in 2020, there’s been talk of IPOs from players like Flutterwave and Moniepoint, but nothing at this scale has landed. If OPay pulls this off, it could open the door for others and signal to global investors that African fintech is ready for the next phase.<br />
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