Nomba has acquired a licensed Payment Service Provider and Money Services Business in Canada, completed in the second quarter of 2025.
This strategic transaction establishes regulated infrastructure in North America, enabling Nomba to facilitate direct business-to-business (B2B) payment flows between African enterprises and Canadian counterparts.
The company has invested approximately $2 million to strengthen the acquired entity’s infrastructure and support operational scaling.
The acquisition provides Nomba with local regulatory coverage in Canada, allowing movement of Canadian dollars (CAD) within the country and seamless connection to African markets.
Unlike consumer remittance corridors, the focus remains on trade-related payments for exporters, importers, professional services firms, and multinational suppliers across sectors including oil and gas services, commodities, fast-moving consumer goods (FMCG) imports, and technology.
Operational Advantages for African Businesses
By owning regulated infrastructure, Nomba offers African businesses local CAD accounts, near-real-time settlement, and direct conversion into Nigerian naira or other African currencies.
This eliminates multiple layers of correspondent banking, which traditionally introduce delays, opacity, and elevated costs.
Nomba estimates that its system delivers foreign exchange and transaction cost savings of 40–60% compared to legacy networks.
Settlement times improve significantly from three to five business days under conventional methods to same-day processing in many cases.
In January 2026, the platform processed $3.4 million through its Canadian infrastructure, demonstrating early traction.
An illustrative early adopter previously encountered prolonged settlement delays, unpredictable exchange rates, and manual reconciliation challenges.
With Nomba’s solution, the company now manages a dedicated CAD account with same-day settlement, enhancing cash flow predictability and operational efficiency.
Cross-border trade payments for African businesses are still built on infrastructure that was never designed for speed or transparency. Owning regulated infrastructure allows us to remove layers of complexity and give businesses predictable, reliable rails they can build on
Yinka Adewale, CEO of Nomba, stated
Strategic Linkages and Regional Expansion
The Canadian acquisition complements Nomba’s concurrent expansion into the Democratic Republic of the Congo (DRC), where the company launched operations in November 2025 following regulatory approval and the establishment of agent networks in Kinshasa.
With regulated licences in both Canada and the DRC, Nomba can provide local-currency accounts, transparent pricing, and same-day settlement for businesses trading between these markets.
Canada remains a significant buyer of minerals and commodities from the DRC, a corridor historically constrained by fragmented payment systems and settlement delays.
Nomba’s infrastructure addresses these inefficiencies, facilitating smoother trade execution for exporters and importers in high-value commodity chains.
READ ALSO:How ADCB Egypt Modernised SWIFT Payments Using Temenos Payments Hub
This Canada corridor represents the first phase of Nomba’s broader strategy to establish regulated infrastructure in additional international markets, supporting African trade globally.
The company already processes trillions of naira annually across domestic payments, banking services, and cross-border transactions.
Yinka Adewale further noted, “Africa to Canada is live. Africa to the rest of the world is next.”
Broader Implications for African Trade Participants
For exporters and importers, the acquisition introduces greater reliability, cost efficiency, and speed to international settlement processes.
African businesses gain improved control over receivables, reduced foreign exchange risk exposure, and the ability to build long-term relationships with Canadian partners without intermediary friction.
This development contributes to the formalisation and digitisation of B2B trade corridors, supporting economic integration and competitiveness for African enterprises engaged in global supply chains.
Looking Ahead
Nomba’s acquisition of regulated Canadian payment infrastructure marks a significant advancement in facilitating efficient B2B trade payments between Africa and Canada.
By delivering local CAD accounts, same-day settlement, and substantial cost reductions, the platform addresses longstanding inefficiencies in trade finance for African exporters and importers.
As of February 5, 2026, this initiative positions Nomba as a key enabler of regulated, transparent cross-border rails, with plans to extend similar capabilities to additional global markets.
For the most current details on services and corridors, consult official resources from Nomba.
Nomba Overview
Nomba is a digital payments platform that lets merchants get paid and manage money using the Nomba app, which you can install by doing a Nomba app download from the App Store or Google Play.
To access your dashboard and transactions, users use Nomba login with their registered phone number and PIN. Merchants also use Nomba POS devices to accept card and mobile money payments in-store.
For support, Nomba provides a Nomba customer care number and often a Nomba customer care WhatsApp number for quick help.
The platform’s services include Nomba Kudi, which enables users to send, receive and hold money, and it functions like Nomba – mobile banking for small businesses and entrepreneurs.
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, climate change, and digital finance at Africa Digest News.
Leave a Reply