The Bank of Ghana (BoG) has stated that payouts received by Ghanaian content creators from digital platforms, including earnings from X, are classified as service export proceeds.

According to the central bank, such inflows are permitted under existing foreign exchange regulations. Creators can receive these earnings through Foreign Exchange Accounts (FEA) held with banks in Ghana or directly into Ghana cedi accounts, provided transactions comply with all regulatory requirements.

The BoG acknowledged concerns raised by some creators about difficulties in accessing their funds. It noted that when transactions are processed correctly, such challenges should not typically occur.

The Bank added that it is currently reviewing the situation and engaging relevant institutions to identify the source of the issues and ensure a swift resolution. It also assured stakeholders of continued engagement throughout the process.

The BoG reaffirmed its commitment to maintaining a stable and supportive financial system that facilitates legitimate cross-border transactions, including digital earnings classified as service exports.

DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.

Tags:

Bank of Ghana clarifies rules for content creators earning from digital platforms

Suggested for you

More Stories

Court lifts orders blocking EFCC from investigating Nestoil Group companies

Outrage Over Israeli Soldier's Vandalism of Jesus Statue in Lebanon

Procedure Is Important: Deputy AG Defends Strict Constitutionalism for OSP Ruling

Public Power Must Be Based on Law - Dr Srem-Sai

When I Didn't Have a University Degree, They Criticized Me for Setting Up a Radio School – Tommy Annan Forson

Nigerian woman wins world award for protecting bats in country where they are disliked

Discussion