NALA receives Bank of Ghana approval, partners with BigPay to expand remittance services
Fintech startup NALA has secured approval from the Bank of Ghana to launch remittance services in the country, partnering with BigPay to deliver cross-border payments to individuals and businesses.
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.
Related Story: Moniepoint introduces Moniebook to provide business owners a unified inventory and POS solution
BigPay’s Man...
