Meet Zhou Yahui, Chinese billionaire behind OPay’s planned NGX listing

Chinese billionaire and technology entrepreneur Zhou Yahui is moving closer to bringing OPay, one of Nigeria’s largest financial technology companies, to the Nigerian Exchange Limited (NGX), eight years after establishing the digital payments business.

The development follows OPay’s disclosure that it has secured board and shareholder approval to pursue a secondary listing on the NGX after completing its proposed initial public offering (IPO) on the New York Stock Exchange (NYSE).

According to the company’s Form F-1 registration statement filed with the United States Securities and Exchange Commission (SEC) on October 9, 2026, the proposed Nigerian listing will be subject to market conditions and applicable regulatory requirements.

Zhou, who also serves as executive chairman of Opera Limited, is OPay’s largest disclosed individual beneficial shareholder, controlling approximately 21.3% of the fintech through investment vehicles. The company currently employs over 7000 staff across its various locations

Zhou Yahui was born in February 1977 in Lijiang, Yunnan Province, China.He attended Tsinghua University in Beijing, where he earned a bachelor’s degree in mechanical engineering in 1999 and a master’s degree in optical engineering in 2006.

His entrepreneurial career began in 1999 when he established Vulcan Net, an internet platform for sharing animated content among students and other users.The venture received financial support from Tsinghua University but eventually shut down in 2004 after struggling to achieve profitability.

Zhou subsequently joined Chinese social networking company Renren in 2005 before becoming general manager of Beijing JiNaiTe Technology in 2007.

These experiences preceded the establishment of Kunlun Tech, the technology company that would become central to his business interests.

In 2008, Zhou founded Beijing Kunlun Tech, a technology company specialising in online gaming and digital entertainment.

The company expanded into the development and distribution of online games, including products distributed through its GameArk platform.

In 2015, Kunlun Tech listed on the Shenzhen Stock Exchange, giving Zhou experience in taking a technology business to the public capital markets.

A year later, Kunlun participated in a consortium that acquired Opera’s browser business, giving Zhou significant influence over the international technology company.

He subsequently became executive chairman of Opera Limited and served as its chief executive officer until 2025.

Zhou also expanded his investments into social networking platforms.

In 2016, Kunlun acquired a controlling interest in US-based dating application Grindr, initially purchasing a 60% stake.

However, following a review by the Committee on Foreign Investment in the United States (CFIUS), Kunlun was required to divest its interest.The company completed the sale of Grindr in 2020 for approximately $608 million.

In April 2020, Zhou stepped down as chairman of Kunlun Tech to concentrate on OPay and other investments in financial technology and digital commerce.

OPay was established in 2018 as a financial technology business incubated by Opera Limited, building its initial Nigerian operations through the acquisition of Paycom Nigeria Limited.

The company entered the market as demand for digital payments and financial inclusion services increased, particularly among individuals and small businesses with limited access to conventional banking services.

OPay’s proposed listing on the Nigerian Exchange Limited (NGX) comes amid a significant improvement in the fintech company’s financial performance, driven by higher transaction volumes, user growth and expansion in digital lending.

According to an August 13, 2026, report by Nairametrics, OPay returned to profitability in the 2025 financial year, posting a net profit of $72.47 million compared with a net loss of $50.98 million in 2024.

The company’s revenue surged by 161% to $536.25 million in 2025, up from $205.73 million in the preceding financial year.

OPay processed gross transaction value of $358 billion in 2025, more than double the $166.2 billion recorded in 2024.

Monthly active users increased by 57% from 25.1 million in 2024 to 39.3 million in 2025, while daily active users reached 22.7 million in the fourth quarter.

The fintech’s lending business also expanded, with new loan originations rising by 285% from $243.9 million in 2024 to $938.3 million in 2025.

On October 11, 2026, OPay also secured board and shareholder approval to pursue a secondary listing on the NGX after completing its proposed New York Stock Exchange debut.

The proposed Nigerian listing remains subject to market conditions and regulatory approvals. If completed, it would provide Nigerian investors with an opportunity to own shares in a fintech whose operations have grown substantially within the country’s digital payments market.

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