The Bank of Ghana has clarified recent media reports suggesting that MTN Ghana has been licensed to conduct cross-border transactions with MTN in Nigeria. According to the Bank, MobileMoney Limited, providers of MoMo from MTN, has not been licensed or authorized to conduct cross-border transactions.
Instead, the Bank has approved Brij Fintech Ghana, a licensed Payment Service Provider (PSP), to pilot an innovative cross-border payment solution called BrijX. This platform enables direct currency swaps between the Ghanaian Cedi and the Nigerian Naira without the need for forex or movement of funds across borders.
The pilot, which began live testing in February 2025, is safely governed by several restrictions, including transaction limits, limits on the number of customers, and testing period. The Bank has also ensured the incorporation of Anti-Money Laundering (AML), Know Your Customer (KYC), and consumer protection requirements.
At the end of the pilot, the Bank of Ghana will review the results to determine the appropriateness of the BrijX model, which will inform future policy. This initiative demonstrates the Bank’s commitment to being responsive to stakeholder interests in safe, efficient, and affordable cross-border payments, particularly in Africa.
Ruth Abla ADJORLOLO
