Nomba, a Nigerian business-focused digital banking platform, has secured a $3 million debt facility through CardinalStone Finance Company Limited to expand its cross-border payments infrastructure and strengthen its operations in the Democratic Republic of Congo.
The funding will provide Nomba with additional US dollar liquidity through its banking relationships in Hong Kong and Singapore, as the company positions the DRC as a strategic hub for facilitating trade between Central Africa and Asian markets.
The facility comes as African businesses trade across borders but continue to face challenges including limited access to foreign currency, slow settlement times and fragmented payment infrastructure.
Nomba said it has spent the past 18 months building payment infrastructure designed to make it easier for businesses to move money across borders by combining banking relationships, global payment access and local market expertise.
The company is using its DRC operations as a gateway into Central and East Africa, with plans to expand into Zambia and Uganda.
