Grey says it has developed direct currency-conversion routes intended to reduce the need for African businesses to route some regional payments through US dollars.
Co-founder and CEO Idorenyin Obong discussed the approach with journalists at Moonshot in Lagos on 29 October, according to Punch. He identified foreign-exchange liquidity and uncertainty over settlement times as persistent barriers for businesses paying suppliers across borders.
The company says its infrastructure supports collections and payouts in markets including Nigeria, Kenya and Ghana. The comments describe Grey’s approach to supported corridors; they do not establish that every African currency pair is available. Businesses assessing a route still need to confirm its currencies, delivery method and settlement conditions for the particular transaction.
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