SoftBank-backed African fintech giant OPay plans to go public in the U.S., aiming to raise about $500 million and potentially list on the NYSE within the year.

Zhito Finance APP has learned that, according to people familiar with the matter, Africa-focused fintech company OPay Digital Services, backed by SoftBank Group, is planning to raise a total of about $500 million through an initial public offering (IPO) in New York and a concurrent private placement. The transaction is expected to be completed before the end of this year and is poised to become one of the most closely watched listings in Africa's fintech industry.