Grey, a fast-growing African fintech platform, has launched local currency deposit services in Ghana and Kenya, allowing users to hold, send, and receive funds directly in Ghanaian Cedis (GHS) and Kenyan Shillings (KES).
The new feature enables seamless deposits from local bank accounts and mobile money wallets into Grey accounts, reducing reliance on foreign currency conversions and associated fees for users in both markets.
With this launch, Grey users in Ghana and Kenya can now maintain balances in local currencies, make instant transfers, pay bills, and conduct everyday transactions more efficiently. The service is expected to improve speed, lower costs, and provide better protection against foreign exchange volatility for individuals, freelancers, and small businesses.
The move builds on Greyโs existing cross-border payment and multi-currency wallet offerings, creating a more complete financial solution tailored to local realities in two of East and West Africaโs largest digital economies.
This development reflects the growing sophistication of African fintechs that are moving beyond remittances to offer full-suite financial services. By supporting local currency deposits, Grey is addressing a key pain point for users who previously had to convert funds into USD or other stable currencies, often incurring significant costs and FX risks.
In both Ghana and Kenya, where mobile money is dominant and currency stability remains a concern, local currency accounts can significantly improve user experience and encourage greater adoption of digital financial tools. The feature also strengthens Greyโs competitive position against established players like MTN MoMo, Telecel Cash, and other regional wallets.
For everyday users whether a freelancer in Accra receiving international payments or a small business owner in Nairobi managing supplier payments this means greater convenience, reduced costs, and more control over their money. It eliminates unnecessary conversion steps and makes daily financial management simpler and more predictable.
The launch is particularly beneficial for the African diaspora sending money home, as recipients can now access funds directly in local currency without forced conversions.
Greyโs expansion of local currency capabilities signals continued investment in building deeper roots in African markets. As more fintech companies follow this path, users across the continent stand to benefit from more inclusive, efficient, and locally relevant financial services.
The feature is now live for eligible users in Ghana and Kenya, with plans for further product enhancements expected in the coming months.
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