Follow CGSP on Social Media

Listen to the CGSP Podcast

Now That Chinese-Owned OPay Has Become Africa’s Third Tech Unicorn, the Magnitude of What Happened Last Week is Starting to Settle In

When the Chinese-owned African mobile money app OPay wrapped up a massive $400 million investment round led by Japan’s Softbank and a who’s who of Chinese venture capital firms, the magnitude of what happened hadn’t really registered.

Those investors now value the company at $2 billion, making OPay only the third African unicorn (a company valued at more than $1 billion) along with two other Nigerian fintech companies, Interswitch and Flutterwave. 

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

What is The China-Global South Project?


The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.


A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.


Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.


A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.