BoG assures content creators access to earnings, clarifies rules on digital incomeThe Bank of Ghana (BoG) has clarified that earnings received by Ghanaian content creators from digital platforms are considered legitimate service export proceeds under the country’s foreign exchange framework.
In a statement, the central bank explained that such payments, including those from platforms like X, are permitted and can be received through approved banking channels.
“The Bank of Ghana (BoG) wishes to clarify that payouts to Ghanaian content creators from digital platforms, including earnings from X, are classified as service export proceeds,” the statement said.
BoG noted that creators have the option to receive these funds either through Foreign Exchange Accounts or Ghana cedi accounts, as long as transactions comply with existing regulations.
“Such inflows are permissible under existing foreign exchange regulations. Creators may receive these earnings through Foreign Exchange Accounts (FEA) held with banks in Ghana, or into Ghana Cedi accounts, provided all transactions are processed in accordance with applicable regulatory requirements,” it added.
The central bank also acknowledged concerns from some content creators about challenges in accessing their earnings, indicating that such issues are not expected under normal circumstances.
“The Bank acknowledges concerns raised by some creators regarding difficulties accessing these funds. When transactions are processed correctly, such challenges should not ordinarily arise,” the statement noted.
BoG said it is currently reviewing the matter and engaging relevant institutions to identify the source of the challenges and ensure they are resolved.
The Bank reaffirmed its commitment to supporting legitimate cross-border transactions and maintaining a stable financial system that accommodates the growing digital economy.
