The evolution of localised jets and periodic nonlinear waves in rotating shallow water magnetohydrodynamics (rotating SWMHD) and standard rotating shallow water model (RSW) is compared within the framework of translationally-invariant 1.5-dimensional configurations, which are traditionally used in geophysical fluid dynamics for studying geostrophic adjustment and frontogenesis. Such configurations also allow for exact nonlinear wave solutions in both models. A theory of the magneto-geostrophic adjustment, i.e. adjustment of an arbitrary initial configuration to a state of magneto-geostrophic equilibrium in RSWMHD, is developed and confirmed by numerical simulations with a finite-volume well-balanced code. The code is resolving all kinds of waves in the model and corresponding weak solutions equally well. It is benchmarked by reproducing exact solutions -- steady essentially nonlinear Alfvèn and mixed magneto-inertia-gravity waves -- and used to demonstrate robustness of these solutions with respect to localised along-wave perturbations. It is also shown how the results on adjustment can be extended to the fully 2-dimensional case.