{
  "id": 6078841,
  "title": "Bank Raises $3m Facility through CardinalStone to Expand Cross-border Payments",
  "url": "https://urgent.news/2026/09/07/bank-raises-3m-facility-through-cardinalstone-to-expand-cross-border",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-07T01:11:00.000Z",
  "source": {
    "name": "This Day",
    "slug": "this-day",
    "url": "https://www.thisdaylive.com/2026/09/07/bank-raises-3m-facility-through-cardinalstone-to-expand-cross-border-payments/"
  },
  "original_language": "en",
  "account": "Digital bank Nomba, specializing in business operations, has obtained a $3 million debt facility from CardinalStone Finance Company Limited to bolster its cross-border payments infrastructure in the Democratic Republic of Congo (DRC). The financing will bolster Nomba's liquidity for transactions through its banking partnerships in Hong Kong and Singapore, enhancing its role as a settlement hub for Central African and Asian trade.\n\nThe $3 million facility comes as cross-border trade across Africa is on the rise, despite obstacles such as underdeveloped payment systems, unsteady access to foreign currencies, and protracted settlement durations. Nomba aims to handle more than $1 billion in monthly cross-border payments, and intends to raise an additional $20 million to $50 million in the coming months to further expand its cross-border payment network.\n\nNomba's Chief Executive Officer, Yinka Adewale, expressed that the facility would bolster the company's liquidity and allow for the expansion of payment corridors and accelerated settlement. He noted that while African businesses are trading with the world more each year, the necessary infrastructure to support this trade is still developing. Adewale stated that this facility provides Nomba with more room to maneuver, enhanced liquidity, additional corridors, and swifter settlement.\n\nAyoola Adeola, Managing Director of CardinalStone Finance, commented on the transaction, underscoring the company's belief in the growth potential of cross-border payments and the vital role of financial infrastructure in linking African businesses to global markets. Adeola emphasized that the transaction reflects their conviction in the expansion opportunities presented by cross-border payments and the impact of innovative financial infrastructure on connecting African businesses to the global market.",
  "summary": "Sunday Ehigiator Nomba, a digital bank focused on businesses, has secured a $3 million debt facility through CardinalStone Finance Company Limited to expand its cross-border payments infrastructure from the Democratic",
  "key_points": [
    "Nomba raised $3 million debt facility from CardinalStone Finance",
    "Facility expands cross-border payments in Democratic Republic of Congo",
    "CEO aims to handle >$1 billion in monthly cross-border payments"
  ],
  "editors_take": "This financing facility enables Nomba to expand its cross-border payment infrastructure, enhancing its role as a settlement hub for Central African and Asian trade and bolstering liquidity for transactions.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}