African Fintech Nomba Secures $3 Million Debt Facility via CardinalStone to Scale Africa-Asia Payment Infrastructure
The B2B financial services provider is leveraging new debt capital to boost U.S. dollar liquidity through Hong Kong and Singapore, positioning its Democratic Republic of Congo hub for faster trade settlement.
KINSHASA / LAGOS — African financial technology company Nomba has secured a $3 million debt facility through CardinalStone Finance to scale its cross-border payments infrastructure out of the Democratic Republic of Congo (DRC).
Operating primarily from its strategic hub in the DRC, Nomba is leveraging the funding to boost its U.S. dollar liquidity via banking relationships in Hong Kong and Singapore. This positions its Central African operations as a primary settlement base for trade moving between Africa and key Asian markets, tackling historical friction points like currency access and sluggish settlement times.
The fresh debt financing comes as Nomba scales its cross-border operations beyond its initial footprint. Across its DRC infrastructure and Canadian-licensed money service business, the company currently processes over $480 million in monthly cross-border payments, with sights set on pushing past $1 billion in monthly volume.
“African businesses are trading more with the rest of the world every year, but the infrastructure to support that trade is still catching up,” noted Yinka Adewale, Chief Executive Officer of Nomba. “This facility gives us more room to move, more liquidity, more corridors, faster settlement.”
The DRC serves as a vital gateway for trade with Asian markets—particularly China, which handles billions in mineral exports and manufactured goods imports across Central Africa. By securing dependable U.S. dollar liquidity and optimizing payout channels through international financial hubs, Nomba is tackling the currency bottlenecks that traditionally slow down regional importers and exporters.
Following this facility, the profitable fintech group plans to expand its footprint further into East and Central Africa, including upcoming entries into Zambia and Uganda, as it prepares for a larger institutional fundraising round.
Written by
Read next
Mauritius Commercial Bank Structures $51 Million Loan to Support Tolaram Group's Guinness Nigeria Refinancing
The Mauritian financial institution has finalized a strategic medium-term facility to help the Singaporean multinational optimize its capital structure following its high-profile acquisition of Guinness Nigeria.
Spiro Secures $50 Million in Debt Funding to Expand African EV Battery-Swapping Network
African electric mobility leader Spiro has raised $50 million in debt financing from Afreximbank, Nithio, and the Africa Go Green Fund. The capital will fuel the expansion of its battery-swapping infrastructure and proprietary technology platform across the continent.
Bboxx and EnerTech Launch $100 Million Electrification Platform at COP28 to Expand Clean Energy Across Africa
Data-driven super-platform Bboxx and Kuwait’s EnerTech have partnered on a $100 million electrification initiative announced at COP28, designed to scale essential clean technology, smart financing, and e-mobility services across 11 African markets.
Amethis Announces Strategic Investment in Pan-African Financial and Insurance Solutions Provider Zamara Holdings Limited
The prominent impact-oriented private equity firm has backed Nairobi-headquartered Zamara to accelerate its digital transformation, expand its regional footprint, and scale its insurance and actuarial services across Africa.
Grindstone Ventures Launches New $31.2 million Fund to Close Africa's Post-Seed Funding Gap
The newly established vehicle, led by an all-female founding team, is designed to bridge the post-seed funding gap and prepare high-growth African enterprises for Series A readiness.
Mauritius Commercial Bank Structures $51 Million Loan to Support Tolaram Group's Guinness Nigeria Refinancing
The Mauritian financial institution has finalized a strategic medium-term facility to help the Singaporean multinational optimize its capital structure following its high-profile acquisition of Guinness Nigeria.