Digital Currency: Veep Bawumia Endorses Brij
The Vice President of the Republic of Ghana, Dr. Mahamudu Bawumia has congratulated Brij Technologies for making it possible by paving the way to its implementation.
This landmark initiative aims at enhancing cross-border transactions and facilitate seamless financial interactions between Ghana and Nigeria, marking a pivotal moment in the evolution of mobile banking in the region.
This is to foster commercial exchange between the Ghanaian Cedi and the Nigerian Naira through mobile money interoperability.
Addressing journalists at a press conference in Accra during the launch of Brijx currency swap B2B digital platform, the chief of staff of the office of the vice president, Augustine Blay congratulated the team between the Ghanaian cedi and the Nigerian Naira.
Mr. Blay also praised how BrijX connects to Paybills in Africa, which aggregates millions of African vendors across the two countries into a single online marketplace agenda.
This demonstration not only impressed the audience, but also highlighted the practicality and efficiency of the solution in facilitating cross-border transactions.
He further stated that ,the demonstration of BrijX at the media launch signifies a significant step forward in leveraging technology to drive economic growth, reduce transaction costs, and foster greater financial inclusion and connectivity across Africa.
A representative of the U.S. Foreign Commercial Service Deputy mission head, Rolf Olson told the audience “Ghana has rightly earned its reputation as a digital hub.
However, the missing link between MoMo usage and regional trade integration is the enabling mechanism for cross-border payments, and we saw immediately the potential for Brij and DCM to fill this gap in Ghana and Nigeria.
The launch of Brijx chief operating officer Beatrice Bota hinted the significant transformation in Ghana and nigerian currency exchange system, shifting fiance from analogue to electronic in real time market place.
About Brij:
Brij specializes in consumer aggregation and financial intermediation, providing cross-border bill payment and International Money Transfer Operator services.
Its infrastructure is built on partnerships with the continent’s leading telcos, banks, fintechs, and other aggregators.
These providers grant Brij exclusive access to the merchants and individuals that comprise their networks of subscribers, allowing Brij to create digital “highways” connecting their merchants and enabling full interoperability between networks.
The Brij solutions include a unified merchant repository and a proprietary currency swap marketplace.
Users will be able to pay their bills to merchants across the continent on a single platform, as easily as they would send a text message.
Partner telcos and financial intermediaries profit from its revenue sharing system, which offers a collective return for each transaction on the Brij platform.
Additionally, the currency swap function will help ease demand for Forex reserves, reducing the pressure on limited supplies of hard currency, including U.S dollars (USD).
By: Frank OWUSU OBIMPEH
