Nume Ekeghe with agency reports
South Africa’s Standard Bank Group is in talks to acquire a stake in Nigerian fintech company, OPay Digital Services, ahead of the payments company’s planned listing in the United States, Bloomberg has reported.
The proposed investment would give the banking group by assets a position in OPay before the fintech seeks to raise capital on the US market.
People familiar with the matter told Bloomberg that Standard Bank was seeking to acquire the stake ahead of the initial public offering, although the size of the proposed investment and the percentage stake being targeted remain unknown.
The discussions come as OPay steps up preparations for what could be one of the biggest African fintech listings in the US.
