Nigeria's Nomba Acquires Licensed Canadian Payments Firm to Build Cross-Border Corridor
The fintech is expanding beyond Nigeria into cross-border payments, opening a Canada-to-Africa corridor.
Nigerian fintech Nomba has completed the acquisition of a licensed Canadian payment service provider and money-services business, extending its reach into cross-border payments.
The company said it had begun processing transactions through a Canada-to-Africa corridor, serving clients such as Nigerian oil-and-gas firms that bill Canadian partners and need same-day settlement for payroll and operations.
Nomba, which processes a high volume of monthly transactions across its payments business, has also outlined plans to enter the Democratic Republic of Congo with a remittance-first model targeting high-volume corridors.
The acquisition reflects a broader trend of Nigerian fintechs pursuing licensed entities abroad to diversify revenue beyond the naira.