REGULATION | Brij Fintech Begins Pilot for B2B Currency Swap Platform Between Kenya, Ghana, and Nigerian Currencies Under the Bank of Ghana Regulatory Sandbox

Brij Fintech Ghana, a licensed Payment Service Provider, has launched a six-month pilot of its BrijX B2B Currency Swap Platform under the oversight of the Bank of Ghana’s Regulatory Sandbox.

The BrijX platform facilitates direct currency swaps between the Ghanaian Cedi and the Nigerian Naira, eliminating the need for traditional foreign exchange channels, an issue regarded as a thorn in intra-African trade.

According to the company’s website, it is also available in Kenya, allowing users across the three countries to seamlessly send, receive, spend, and swap money without borders.

The platform partners with banks, mobile money operators, and licensed payment service providers to enable smooth currency exchanges.

Bank of Ghana emphasized that the BrijX pilot, which began live testing in February 2025, currently includes MTN MoMo customers and will soon extend to G-Money users, to integrate the BrijX platform into their customer networks.

However, it was clarified that MTN Ghana has not been licensed to facilitate cross-border transactions with MTN Nigeria.

In a statement, the Bank of Ghana said while MTN MoMo is not licensed for cross-border transactions, the BrijX pilot represents a regulated initiative aimed at transforming digital payments within the region.

“Bank of Ghana has taken note of media publications suggesting that MTN Ghana has been licensed to conduct cross-border transactions with MTN in Nigeria.

The Bank hereby states that MobileMoney Limited, providers of MoMo from MTN, has not been licensed or authorised to conduct cross-border transactions,” the bank said in a press release.

The pilot operates under strict regulatory controls, including transaction limits, a restricted number of participants, a fixed testing period, and full compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.

The pilot will evaluate outbound transactions from Ghana to Nigeria with a limited group of users while ensuring compliance with existing regulatory limits.

At the end of the pilot, the Bank of Ghana will evaluate the results to determine whether the BrijX model aligns with the country’s financial regulatory framework and future policy directions.

A representative from Brij Fintech Ghana called the pilot ‘a major step toward improving financial inclusion and streamlining cross-border trade.’

The Bank of Ghana’s Regulatory Sandbox offers a controlled space for fintech innovations, allowing companies to test new solutions while ensuring regulatory compliance.

If the pilot proves successful, BrijX has the potential to reshape currency exchange and trade between Ghana and Nigeria.