OPay Digital Services Ltd. has hired Citigroup, Deutsche Bank and JPMorgan Chase to work on a potential U.S. initial public offering that could value the Nigerian fintech at about $4 billion, people familiar with the matter said.
The listing could take place later in 2026, the sources said, cautioning that the timing and size of the offering remain subject to market conditions.
OPay, backed by SoftBank, operates a payments and financial services platform with tens of millions of users in Nigeria, offering mobile money, transfers and other digital banking services.
The company has not yet filed publicly with U.S. regulators. Citigroup, Deutsche Bank and JPMorgan declined to comment, while OPay did not immediately respond to a request for comment.
A successful listing would rank among the largest by an African technology company in recent years and could pave the way for other fintech firms on the continent, including Flutterwave and Moniepoint, to tap international capital markets.
Africa’s digital payments sector has grown rapidly in recent years, driven by rising smartphone adoption and demand for financial services, although companies continue to face regulatory and macroeconomic challenges.
OPay has also strengthened its leadership team with senior international hires, including a former Citigroup executive as chief financial officer, as it prepares for the governance and disclosure requirements of a public listing.