THE NEIGBOURHOOD BANKS DRIVING FINANCIAL INCLUSION IN NIGERIA

In May, Chinese backed and Africa focused Fintech Opayrevealed plans to raise $400M at a valuation of over $1.5B. Opay’s most recent funding round was in November 2019 whereit raised $120M from Meituan and other Chinese VC firms, that round valued Opay at about $500M. Opay is famous in Nigeria for launching a super app, Opay initially entered into the Nigerian market in 2016 when it bought the Norwegian web browser maker Opera and immediately rapidly expanded.