African fintech NALA has secured regulatory approval to operate remittance services in Ghana, marking a significant milestone in the fast-growing payments provider’s expansion.
The company announced that the Bank of Ghana has issued a Letter of No Objection (LONO), allowing NALA and its licensed local partner, BigPay, to formally begin processing cross-border payments in the country.
The approval gives NALA the green light to deepen its footprint in one of West Africa’s busiest remittance corridors. Africa receives billions of dollars in international transfers each year. For example, the continent received $96.4 billion in remittances in 2024.
NALA says its market entry is aimed at improving transparency, reducing costs, and delivering faster, more secure transfers.
The company’s partnership with BigPay is central to this move. BigPay, a licensed Payment Service Provider in Ghana, will provide the underlying infrastructure that enables NALA to deliver payouts directly to local banks and mobile money wallets. BigPay’s platform includes bank-grade APIs and settlement capabilities that enable quick, compliant processing of transactions within the national financial system.
Benjamin Fernandes, NALA’s founder and CEO, described the approval as a validation of the company’s long-term strategy to work closely with regulators and established financial partners. According to him, building trust and staying compliant across markets has been core to NALA’s expansion across Africa and other regions.
“At NALA, we believe financial infrastructure must be built alongside trusted licensed institutions. BigPay’s capabilities and reputation make them a natural partner for our mission. With this approval, we’re not just expanding access, we’re strengthening the resilience, transparency, and inclusivity of Ghana’s financial ecosystem,” Fernandes said in a statement.
BigPay’s Managing Director, Isaac Tetteh, said the collaboration positions both companies to deliver more customer-centric financial services to Ghanaians. He highlighted the potential impact on financial inclusion, especially as more individuals and businesses embrace digital payments.
“At BigPay, we are committed to powering innovation through strong partnerships, and NALA’s vision aligns perfectly with our mission to deepen financial inclusion and expand digital payment capabilities across Ghana. We are excited about the growth possibilities ahead and look forward to delivering real value to customers through this collaboration,” he said.
The Bank of Ghana’s approval comes amid increasing innovation in the country’s fintech sector and growing interest from global players.
For NALA, it adds to a growing list of regulatory permissions across the US, UK, Europe, Africa, and, more recently, Asia. The company operates both a consumer-facing money transfer app and a B2B platform, Rafiki, which allows enterprises to make payments into and out of African markets through a single API.
With its latest approval, NALA says it hopes to strengthen the reliability and transparency of international transfers to Ghana while contributing to a more interconnected African payments landscape.
