Nomba Secures $3M to Boost Cross-Border Payments

Nomba, a digital bank focused on businesses, has secured a $3 million debt facility through CardinalStone Finance Company Limited to expand its cross-border payments infrastructure from the Democratic Republic of Congo (DRC). This facility will provide additional US dollar liquidity for deployment through banking relationships in Hong Kong and Singapore, thereby strengthening its DRC operations for faster settlement of trade between Central Africa and Asia.

Nomba is targeting monthly cross-border payment volumes exceeding $1 billion and plans to raise an additional $20 million to $50 million in the coming months to support this expansion. Yinka Adewale, Nomba’s Chief Executive Officer, stated that the facility would enhance liquidity and enable the expansion of payment corridors and accelerate settlement.

Ayoola Adeola, Managing Director of CardinalStone Finance, remarked that the transaction reflects confidence in the growth potential of cross-border payments and the importance of financial infrastructure in connecting African businesses to global markets.