OPay Limited has secured approval from both its board of directors and shareholders to pursue a listing on the Nigerian Exchange (NGX), even as it continues to push forward with plans for a proposed $4 billion IPO in the United States.
The dual-market approach signals serious ambition from the Lagos-based fintech, which has built one of Nigeria's most recognizable mobile money platforms. Getting sign-off from both the board and shareholders is a meaningful internal milestone, clearing the path for what could be one of the most closely watched listings in Nigerian financial history.
A $4 billion US IPO would place OPay among a rare class of African tech companies commanding that kind of valuation on a global stage. The NGX listing adds a local dimension to that story, potentially opening the company up to Nigerian retail investors who have watched the platform grow from a side-hustle payment app into a financial services heavyweight.
Whether the US listing lands first or the NGX move does, OPay is clearly positioning itself for a very public next chapter. The details of timing are still unfolding, and that is exactly what makes this one to watch.
Originally published by BusinessDay.