NALA receives green light from Ghana’s central bank to launch remittance services

Regulatory approval, alongside a partnership with BigPay, enables the African fintech to operate fully compliant cross-border payments in Ghana

African fintech company NALA has secured formal authorisation from the Bank of Ghana, marking a key regulatory milestone in its expansion across the continent. The approval was granted through a Letter of No Objection (LONO) issued to NALA and its licensed local partner, BigPay, allowing both companies to activate remittance operations within Ghana’s regulated financial system.

The decision enables NALA to officially offer compliant money transfer services to individuals and businesses in the country, reinforcing its strategy of building trusted payment infrastructure in partnership with licensed local institutions.

Founded to simplify cross-border payments, NALA provides a consumer app that allows users in Europe, the UK and the United States to send money to several African markets, including Tanzania, Kenya, Rwanda, Uganda and Ghana. The company expanded into the European Union in 2023, adding 19 new sending countries, and raised US$40 million in funding last year to support its growth.

Launched in 2022, NALA’s consumer platform connects users to more than 249 banks and 26 mobile money services across 16 countries in Africa and Asia. In parallel, its enterprise solution, Rafiki by NALA, offers a single API that enables global businesses to move funds into and out of African markets efficiently.

The approval from the Bank of Ghana aligns with NALA’s broader mission to “build payments for the next billion” by expanding access to secure, affordable and seamless cross-border financial services across emerging markets.

As part of this regulatory milestone, NALA also announced a strategic partnership with BigPay, a fully licensed Payment Service Provider in Ghana. BigPay’s payments infrastructure, including bank-grade APIs and settlement capabilities, will support fast and reliable payouts to local banks and mobile wallets nationwide.

“This approval represents an important step in our journey to scale responsibly across Africa,” said Benjamin Fernandes, founder and CEO of NALA. “Working closely with trusted, licensed partners like BigPay allows us to deliver compliant, transparent and resilient payment solutions that meet both regulatory standards and market needs.”

According to Fernandes, the partnership strengthens Ghana’s financial ecosystem by combining global technology with local expertise, while expanding access to regulated digital payment services for consumers and businesses alike.