African fintech company NALA has received regulatory approval to begin remittance operations in Ghana, marking a key step in the company’s expansion across West Africa.
The Bank of Ghana issued a Letter of No Objection allowing NALA and its licensed local partner, BigPay, to officially launch cross-border payment services in the country. The approval opens the door for NALA to deepen its presence in one of the continent’s busiest remittance corridors. Africa received more than $96 billion in remittances in 2024 alone.
NALA said its entry into the Ghanaian market will help improve transparency, lower transfer costs, and deliver faster, more secure international payments. BigPay, a licensed Payment Service Provider in Ghana, will provide the settlement infrastructure that enables payouts directly to local banks and mobile money wallets. Its system includes bank-grade APIs and compliance-ready capabilities for seamless processing across the national financial network.
NALA’s founder and CEO, Benjamin Fernandes, described the approval as an endorsement of the company’s approach of collaborating with regulators and credible financial partners. He said trust, compliance, and operational transparency have been central to NALA’s expansion across Africa and other regions.
“At NALA, we believe financial infrastructure must be built with trusted, licensed institutions. BigPay’s capabilities make them a natural partner as we work to strengthen Ghana’s financial ecosystem,” Fernandes said.
BigPay’s Managing Director, Isaac Tetteh, noted that the partnership positions both companies to deliver more customer-focused payment services and contribute to deeper financial inclusion as more individuals and businesses shift to digital channels.
The Bank of Ghana’s approval comes at a time when the country’s fintech landscape is attracting increased innovation and interest from global players. For NALA, this adds to its growing list of regulatory authorizations across the US, UK, Europe, Africa, and parts of Asia. The company runs a consumer money transfer app as well as a B2B payments platform, Rafiki, which enables businesses to move funds into and out of African markets via a single API.
With the Ghana approval secured, NALA aims to strengthen the reliability of international transfers to the country and contribute to a more connected African payments ecosystem.
