Nomba Secures $3 Million Facility Through CardinalStone to Expand Cross-Border Payments

Nomba 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.

The facility will provide additional US dollar liquidity for deployment through Nomba’s banking relationships in Hong Kong and Singapore. The company said this will strengthen its DRC operations as a base for faster trade settlement between Central Africa and Asia.

Nomba said cross-border trade continues to grow across Africa despite limited payment infrastructure, unreliable access to foreign currencies and lengthy settlement periods. It is targeting monthly cross-border payment volumes of more than $1 billion and plans to raise an additional $20 million to $50 million in the coming months.

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African businesses are trading more with the rest of the world every year, but the infrastructure to support that trade is still catching up. This facility gives us more room to move, more liquidity, more corridors, faster settlement.

The company said it is profitable across the group, including its Nigerian and DRC operations. Chief Executive Officer Yinka Adewale said the financing would provide greater liquidity, allow Nomba to expand payment corridors and accelerate settlement. “African businesses are trading more with the rest of the world every year, but the infrastructure to support that trade is still catching up. This facility gives us more room to move, more liquidity, more corridors, faster settlement,” he said.

CardinalStone Finance Managing Director Ayoola Adeola said the transaction reflected confidence in the growth potential of cross-border payments and the role of financial infrastructure in connecting African businesses to global markets. “This transaction reflects our confidence in the growth opportunity presented by cross-border payments, and the role innovative financial infrastructure can play in connecting African businesses to global markets,” Adeola said.

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This transaction reflects our confidence in the growth opportunity presented by cross-border payments, and the role innovative financial infrastructure can play in connecting African businesses to global markets.