NALA Secures Bank of Ghana Approval to Launch Remittance Services
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African fintech company NALA has secured regulatory approval to begin operating remittance services in Ghana, marking a major step forward in the company’s expansion across African payment corridors. The company announced that the Bank of Ghana has issued a Letter of No Objection, allowing NALA and its licensed partner, BigPay, to officially begin processing cross-border transactions.
This development positions NALA to enter one of West Africa’s busiest remittance markets. Africa received an estimated $96.4 billion in international transfers in 2024, making cross-border payments a key driver of financial inclusion and economic support for households. NALA says its entry into Ghana is aimed at improving transparency, lowering transfer costs and delivering faster, more secure services.
The partnership with BigPay is central to NALA’s rollout in the country. BigPay, a licensed Payment Service Provider in Ghana, will provide the financial infrastructure needed to process payouts to local banks and mobile money wallets. Its platform includes bank-grade APIs and settlement capabilities designed to support quick, compliant transaction processing across the national payments system.
NALA founder and CEO Benjamin Fernandes said the approval reflects the company’s commitment to working closely with regulators and licensed partners. He noted that building trust and ensuring compliance has been a core part of NALA’s expansion strategy across Africa and other global markets. He said the collaboration with BigPay strengthens the resilience and transparency of Ghana’s financial ecosystem.
BigPay’s Managing Director, Isaac Tetteh, said the partnership will support the growth of digital payments and help expand financial inclusion. He said both companies are aligned in their mission to create customer-focused financial services and broaden access to digital tools for individuals and businesses in Ghana.
The Bank of Ghana’s decision comes at a time of growing innovation in the country’s fintech landscape, as global and regional players compete to offer payment and financial services. For NALA, this approval adds to a growing list of regulatory licences across the US, UK, Europe, Africa and Asia.
NALA operates a consumer money transfer app as well as a B2B payments platform known as Rafiki, which allows enterprises to send and receive payments across African markets through a single API. With its latest regulatory clearance, the company says it plans to strengthen the reliability and transparency of remittances into Ghana while contributing to a more connected African payments ecosystem.
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