OPay’s lending revenue surpasses payments as US listing nears

OPay Limited reported first-half 2026 revenue of $467.06 million, with loan income overtaking payment services as its primary revenue driver. Loan revenue increased 167.9 per cent to $236.12 million, surpassing $130.55 million from payment-related activities and representing 50.6 per cent of total revenue. The company attributed this shift to higher lending volumes and an expanded borrower base.

Late repayments on loans stood at $113.80 million as of June 30, accounting for 27.4 per cent of OPay’s $415.33 million total loan obligations. Loan-related charges represented 25.3 percent of revenue, up from 19.3 per cent the prior year.

The company’s growing reliance on credit services aligns with its preparation for a proposed US listing and a planned secondary listing in Nigeria.