Grey CEO Advocates for Direct African Currency Payments

Idorenyin Obong, co-founder and Chief Executive Officer of Grey, emphasized that African businesses should not depend on the US dollar for cross-border payments. Speaking at the Moonshot by TechCabal 2026 conference in Lagos, he explained that Grey has created direct currency conversion routes to streamline transactions and tackle foreign exchange liquidity issues.

He noted that businesses often face challenges such as payment reliability and delays, which can disrupt trading relationships. Grey's infrastructure allows customers in Nigeria, Kenya, and Ghana to conduct transactions in multiple currencies with real-time settlement.

Since its inception, Grey has processed over 40 million transactions and nearly $5 billion in payments. The company’s multi-currency platform, Grey Business, has processed nearly $100 million since its launch in February.

Additionally, Grey has expanded its services to include payouts in Chinese yuan, catering to businesses needing to pay suppliers in China.