African fintech group OPay reported a net profit of $72.47 million for the 2025 financial year, reversing a loss of $50.98 million in the previous year and strengthening its position ahead of a possible initial public offering in the United States.
Revenue rises sharply
OPay’s revenue increased by 161 per cent to $536.25 million, according to audited financial statements contained in an investment document connected to the proposed listing.
Operating income moved from a $35.1 million deficit in 2024 to a profit of $107.1 million. Adjusted earnings before interest, tax, depreciation and amortisation reached $113.2 million, compared with a loss of $33.6 million one year earlier.
The improvement suggests that OPay is moving beyond rapid customer acquisition and developing a more sustainable financial model. Operating cash flow nearly tripled to $152.2 million, while cash reserves rose by 162 per cent to $274.3 million.
Transaction volumes more than double
The total value of transactions processed through OPay’s platform increased by 115 per cent to $358 billion during the year.
Monthly active users rose by 57 per cent to 39.3 million as the company expanded its digital wallet, payments, savings and lending services. The figures make OPay one of the largest consumer-focused financial technology platforms operating in African and other emerging markets.
The company was founded in 2018 and operates in Nigeria, Egypt, Indonesia and Pakistan. Its services allow customers to transfer money, pay bills, purchase mobile airtime and access other financial products through smartphones and a large network of local agents.
Nigeria remains central to growth
Nigeria generated 88.1 per cent of OPay’s total revenue in 2025, demonstrating the continuing importance of Africa’s most populous country to the company’s growth.
Around 70 per cent of OPay’s monthly active Nigerian wallet customers were using more than five products by March 2026. This indicates that the company is successfully converting basic payment users into customers for a broader range of financial services.
Nigeria’s combination of a large population, limited access to conventional bank branches and widespread smartphone adoption has created one of Africa’s most competitive fintech markets. OPay competes with commercial banks, mobile money providers and digital platforms including PalmPay, Moniepoint and Kuda.
Lending becomes increasingly important
OPay originated $938.3 million in new loans during 2025, representing an increase of 285 per cent. The number of unique quarterly borrowers in Nigeria more than doubled to 4.6 million.
Digital lending can generate higher returns than payment processing, but it also exposes fintech companies to greater credit and regulatory risks. OPay will need to demonstrate that its automated lending systems can maintain repayment quality as volumes continue to grow.
Consumer protection, data privacy and responsible credit assessments will therefore remain important areas of scrutiny.
Possible US listing draws closer
OPay is reportedly preparing for a potential US stock market listing that could value the business at approximately $4 billion. JPMorgan, Citigroup and Deutsche Bank are understood to be involved in preparations for the offering.
The timing and final valuation will depend on market conditions and investor demand. However, the transition from loss to profit gives OPay a stronger case when presenting its business to international investors.
A successful listing would represent an important milestone for African fintech, demonstrating that a digital financial platform built primarily around Nigerian customers can achieve both considerable scale and operating profitability.
It would also place greater pressure on other African fintech companies to show that rapid user growth and transaction volumes can ultimately produce sustainable earnings.
Newshub Editorial in Africa – 19 August 2026
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