Africa’s largest bank by assets, Standard Bank Group is in negotiations with Nigerian fintech company OPay ahead of the latter’s planned initial public offering (IPO) in the United States.

OPay is working with Citigroup, Deutsche Bank AG and JPMorgan Chase & Co to help list the company in New York, which is expected to take place later in 2026, according to Bloomberg.

The amount Standard Bank intends to invest and the stake it is seeking in OPay remain unknown as the fintech, backed by SoftBank Group Corp and Sequoia Capital, targets a US IPO valuation of $4 billion.

The potential investment in OPay followed Standard Bank Group’s disclosure that it plans to increase its investments in companies across Africa in June.

The lender said it would deploy $15.4 billion to tap opportunities in Nigeria and other key markets across the continent.

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Since it was created in 2018, OPay has grown into one of Nigeria’s largest digital financial platforms, offering payment, savings, credit and other financial services as a mobile money operator.

In previous years, it has expanded beyond Nigeria into emerging markets across Africa and Asia, including Indonesia, Pakistan, and Egypt.

OPay is one of Nigerian fintech companies, including Moniepoint and Flutterwave, that have raised funding through foreign means over the years to finance growth and expand their operations beyond the continent.

The Senior Political Assistant to the African Democratic Congress, ADC, presidential candidate, Atiku Abubakar, Demola Olarewaju, on Tuesday said the momentum of the opposition would die if the former vice president stepped down from the presidential race ahead of 2027.

Olarewaju insisted that Atiku is the only candidate showing the capacity to match President Bola Tinubu locally and internationally.

Posting on X, he wrote: “Atiku steps down now and opposition momentum dies totally – an election with the incumbent as contestant is a different ballgame from a transition election.

“2027 is beyond Atiku. Atiku himself is the bridge for us to build and hold an opposition core, post-2027.

“Atiku is the only candidate showing capacity to match Bola Tinubu locally and internationally in 2027.

“Every election is unique and different and everyone should get ready.

“2023 went the way it did because Buhari wasn’t too invested in Tinubu’s victory, that’s why APC lost Lagos and communal rigging was allowed in many states.”