Digital cross-border payment company Africhange has secured an International Money Transfer Operator (IMTO) licence from the Bank of Ghana. The regulatory clearance allows the company to process inbound international money transfers directly into Ghana without relying on third-party intermediary partners.
The approval grants central bank authorization for Africhange to operate within Ghana’s formal financial services framework. With direct market access, the platform plans to roll out customized remittance services tailored for the Ghanaian diaspora across the United States, the United Kingdom, and Europe, emphasizing transparent pricing, competitive exchange rates, and direct delivery channels.
Expanding Regulated Rails Across West Africa
The Ghanaian licence expands Africhange’s direct regulatory footprint across West Africa. In 2025, the company’s Nigerian subsidiary, Currenzo, obtained an equivalent IMTO approval from the Central Bank of Nigeria amid tightened capital requirements and heightened oversight for cross-border payment operators.
By securing direct licences rather than operating through correspondent banking intermediaries, Africhange reduces operational bottlenecks, cuts transaction costs, and ensures compliance across its primary transfer corridors.
David Ajala, founder and chief executive officer of Africhange, noted that the approval reflects the company’s commitment to building compliant, market-specific financial infrastructure. He emphasized that direct integration allows the platform to provide safer, more affordable cross-border payment channels for individuals and businesses connected to Ghana.
Capturing Inbound Diaspora Flows
Ghana represents a key destination for formal remittance flows in West Africa, with diaspora transfers serving as a major source of foreign exchange and household support for health, education, and business investments.
By entering Ghana as a direct IMTO, Africhange joins a competitive landscape that includes commercial banks, mobile money operators, and established international transfer platforms. Since launching in 2020, the company reports processing millions of transactions across more than 100 countries.
While the licence marks a significant regulatory milestone, Africhange stated that full product availability, supported settlement corridors, and specific partner integrations in Ghana will be announced through official channels prior to commercial rollout. The move reflects a broader trend among African fintechs shifting away from partner-reliant models to build direct, licensed payment infrastructure across regional corridors.
