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OPay’s Wall Street bid faces Nigeria’s lending reckoning

Mobile money instant payment in Africa. Photo by Olumide Bamgbelu @ Unsplash
Mobile money instant payment in Africa. Photo by Olumide Bamgbelu @ Unsplash

Brandon Orion Mensah

Brandon Mensah tracks Africa’s markets, uncovering the forces shaping investment, policy, and financial trends.
  • OPay seeks New York listing after profits quadruple, with Standard Bank backing.
  • Rising credit losses expose risks as lending generates nearly 60% of revenue.

 

ABUJA, NIGERIA – OPay is seeking a Wall Street listing after a surge in profits, but its fast-growing lending business could become the toughest test for investors.

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