Kenyan Digital Foreign Exchange Platform Expands Operations With Ghana Launch

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Written by Peter Pedroncelli
foreign exchange platform
BitPesa has now officially launched operations in Ghana. Photo – BitPesa

Kenyan digital foreign exchange platform and bitcoin payments startup, BitPesa has officially launched its services in Ghana, expanding its presence in West Africa.

BitPesa’s launch in the country will now allow Ghanaians to make Ghanaian cedi payments in more than 10 currencies, including the Nigerian naira and the South African rand, according to Techmoran.

BitPesa enables African users to buy and sell local African currencies through bitcoin, with settlements directly transacting to and from bank and mobile money accounts in Africa.

Some of BitPesa’s clients include a number of the fastest-scaling wholesale remittance companies and some Fortune 50 social enterprises, Uncova reported.

The company already operates in Nigeria, and as the second largest economy in West Africa, it made regional sense to expand into Ghana next.

The company also offers services in Tanzania, Uganda, the Democratic Republic of Congo, the U.K. and Senegal, but a ban on digital currencies by the central bank means that it cannot operate within its home country of Kenya.

Elizabeth Rossiello, CEO of BitPesa, expressed her delight at the fact that her company is now able to offer services to yet another country in West Africa.

“We are constantly looking for ways to promote intra-African trade, so we’re very excited about our services in Ghana,” Rossiello said, according to BusinessGhana.

“Ghanaians should be allowed to make global payments using their own currency and we are excited to facilitate this. We will continue to improve service offerings, compliance, and value for our new Ghanaian customers,” she added.

In August last year the bitcoin startup secured a second round of funding from investors across the globe, bringing the total investment secured to $10 million, according to BitcoinAfrica.

With BitPesa now officially launched in the country, customers can buy and sell bitcoins on the online platform. Businesses are also able to make payments to Ghanaian mobile accounts.