Standard Bank negotiates with Opay to bet on his IPO prospects

According to Bloomberg, Standard Bank is negotiating with the Nigerian Finance Technology Corporation, Opay, which plans to complete the deal before it travels to the United States. Opay, supported by the SoftBank Group, Sequoia Capital and others, is working with Citigroup, Deutsche Bank and Morgan Chase to promote its listing in New York. The parties have yet to reach a final agreement. Opay was founded in 2018 and has about 50 million users, with a projected turnover of $358 billion and a profit in 2025. McKinsey projected that Africa's financial science and technology revenues would increase to $47 billion by 2028, with mobile payments trading in sub-Saharan Africa amounting to $1.4 trillion。