Africhange Secures Ghana IMTO Licence to Expand Regulated Remittance Services

Africhange,  a digital remittance company focused on cross-border money transfers, has secured an International Money Transfer Operator (IMTO) licence from the Bank of Ghana , allowing it to provide regulated international money transfer services directly in Ghana.

The approval gives Africhange the regulatory clearance to operate within Ghana’s formal remittance framework without relying solely on intermediary partners. The company said the licence strengthens its efforts to build financial infrastructure that supports Africans sending and receiving money across borders.

With the approval, Africhange can develop remittance services tailored to Ghanaian customers and their connections overseas. The company is expected to focus on competitive exchange rates, transparent pricing, reliable transfers and customer support as it expands its presence in the market.

The Ghanaian licence adds to Africhange’s growing regulatory footprint across Africa. In 2025, its Nigerian subsidiary, Currenzo, secured an equivalent licence from the Central Bank of Nigeria to facilitate inbound international remittances. The approval came amid tighter regulatory requirements for international money transfer operators in Nigeria.

Ghana is an important market for remittance services, with money sent from its diaspora supporting households and businesses. The country’s connections with diaspora communities in markets including the United States, United Kingdom and Europe have created continued demand for cross-border payment services.

Africhange will enter a competitive Ghanaian remittance market that includes local financial institutions, mobile money providers and international transfer companies. The company says it operates across more than 100 countries and has processed millions of transactions since its launch in 2020.

The company’s founder and chief executive, David Ajala, described the approval as part of Africhange’s longer-term commitment to serving customers in individual markets while maintaining regulatory compliance. He said the company aims to make international money transfers simpler, secure and fairly priced for Ghanaians.

The licence currently represents a regulatory milestone rather than a full operational launch. Africhange said it will provide further information on product availability, supported transfer corridors and customer access in Ghana through its official channels.

The approval also reflects the growing formalisation of digital remittance services across African markets, as fintech companies seek regulatory licences that allow them to build direct payment infrastructure and expand across borders.