Nomba Bets on Better Payment Infrastructure to Connect African Businesses to Global Trade

As African businesses expand their trade relationships beyond the continent, the ability to move money quickly, reliably and across currencies is becoming increasingly important.

Nigerian fintech company Nomba is making a new push into that opportunity after securing a $3 million debt facility through CardinalStone Finance Company Limited to expand its cross-border payments infrastructure from the Democratic Republic of Congo.

The financing will provide Nomba with additional US dollar liquidity to support transactions through its banking relationships in Hong Kong and Singapore, strengthening its ability to settle trade between Central Africa and Asian markets.

Nomba said its DRC operations, alongside its Canadian-licensed money service business, currently process more than $480 million in cross-border payments each month. The company is targeting monthly volumes of more than $1 billion as it expands its payment network.

The move reflects a wider challenge facing businesses operating across Africa: while trade between African countries and international markets continues to grow, the infrastructure for moving money across borders has not always kept pace.

Businesses can face limited access to foreign currency, lengthy settlement periods and fragmented payment systems, all of which can increase the cost and complexity of international trade.

For Nomba, improving the underlying payment infrastructure is therefore central to its expansion strategy.

Chief Executive Officer Yinka Adewale said the company has spent the past 18 months building its cross-border payments infrastructure, combining relationships with international banks and payment channels with operations in local markets.

“African businesses are trading more with the rest of the world every year, but the infrastructure to support that trade is still catching up,” Adewale said.

The new facility will give Nomba greater liquidity to support transactions and faster settlement while allowing the company to deepen payment connections between Africa and its trading partners in Asia.

The Democratic Republic of Congo is playing a central role in that strategy.

Nomba is using its DRC operation as a base for settling trade between Central Africa and Asia, with Zambia and Uganda identified as the next markets for expansion.

The focus on Africa-Asia trade is significant as commercial relationships between the two regions continue to deepen. For businesses importing goods, exporting commodities or paying international suppliers, reliable access to payment infrastructure can determine how quickly and efficiently transactions are completed.

Nomba’s strategy is therefore not simply about processing more payments. It is about building financial infrastructure around the businesses that depend on international trade.

The company is also planning to raise between $20 million and $50 million in additional funding in the coming months to support its cross-border payments activities. Nomba said its operations in Nigeria and the DRC are profitable, providing a foundation for its expansion plans.

For CardinalStone Finance, which provided the latest facility, the transaction reflects growing demand for financial infrastructure capable of supporting Africa’s expanding trade corridors.

Managing Director Ayoola Adeola said the facility was structured to support Nomba’s expansion across key Africa-Asia trade routes.

The development comes as other African financial technology companies and policymakers continue to focus on making cross-border payments easier and reducing the friction involved in intra-African and international trade.

For Nigeria and the wider African market, the opportunity extends beyond fintech.

More efficient payment infrastructure can make it easier for small businesses to access international suppliers, exporters to receive payments, and companies to build commercial relationships across borders.

It can also support the broader ambition of creating a more integrated African economy, where businesses are able to trade across countries without navigating unnecessarily complicated financial systems.

Nomba’s latest financing signals its intention to be part of that infrastructure.

With its DRC operation already processing hundreds of millions of dollars in monthly cross-border payments and plans to expand into additional African markets, the company is positioning itself around a problem that extends far beyond fintech: how to make it easier for African businesses to participate in global trade.

The $3 million facility may be the immediate announcement, but the bigger story is the infrastructure being built behind it.

Because as African businesses trade more with the world, the companies that make moving the money easier could become just as important as the companies moving the goods.