Bank of Ghana clarifies MTN Ghana’s cross-border transaction status and announces fintech pilot

The Bank of Ghana (BoG) has issued a public notice to clarify recent media reports suggesting that MTN Ghana has been licensed to conduct cross-border transactions with MTN Nigeria. The central bank confirmed that MobileMoney Limited, the provider of MTN’s MoMo service, has not been licensed or authorized to conduct cross-border transactions.  The clarification comes as the Bank of Ghana continues to explore innovative fintech solutions through its regulatory sandbox program. As part of this initiative, the BoG has approved Brij Fintech Ghana, a licensed Payment Service Provider (PSP), to pilot BrijX, a B2B Currency Swap Platform designed to facilitate direct currency swaps between the Ghanaian Cedi and the Nigerian Naira without the need for forex or cross-border fund movements. 

The BrijX platform, which began live testing in February 2025, aims to create a digital marketplace that collaborates with banks, mobile money operators, and licensed PSPs. The pilot initially involved MoMo customers and is set to expand to include G-Money customers. 

To ensure the safety and integrity of the pilot, the Bank of Ghana has implemented several restrictions, including transaction limits, customer participation limits, and a defined testing period. Additionally, the pilot incorporates Anti-Money Laundering (AML), Know Your Customer (KYC), and consumer protection requirements to safeguard users and maintain regulatory compliance. 

The Bank of Ghana emphasized its commitment to fostering safe, efficient, and affordable cross-border payments, particularly within Africa. The BrijX pilot is part of the central bank’s broader efforts to explore innovative fintech solutions that address the challenges of cross-border transactions. 

“At the end of the pilot, the Bank of Ghana will review the results to determine the appropriateness of the BrijX model and inform future policy,” the notice stated. “The Bank remains committed to being responsive to stakeholder interests in safe, efficient, and affordable cross-border payments.” 

The Bank of Ghana’s notice also addressed recent media reports regarding MTN Ghana’s involvement in cross-border transactions. The central bank clarified that MobileMoney Limited, which operates MTN’s MoMo service, has not been licensed or authorized to conduct such transactions. 

This article highlights the Bank of Ghana’s clarification on MTN Ghana’s cross-border transaction status and its announcement of the BrijX fintech pilot, emphasizing the central bank’s commitment to innovation and regulatory compliance.

Below is the statement from the Bank of Ghana 

By:  Nana Appiah Acquaye