BoG Classifies Digital Earnings as Service Exports, Moves to Resolve Payment Challenges

The Bank of Ghana (BoG) has clarified that income earned by Ghanaian content creators from digital platforms should be treated as service export proceeds under the country’s foreign exchange regulations.

In a statement, the central bank explained that payouts from platforms such as X and other digital channels qualify as legitimate cross-border inflows and are permitted within existing regulatory frameworks.

According to the BoG, creators can receive these earnings through Foreign Exchange Accounts held with banks in Ghana or have them deposited into cedi accounts, provided all transactions comply with relevant rules.

The Bank also acknowledged concerns from some content creators regarding difficulties in accessing their funds. It noted that such issues should generally not occur when transactions are processed correctly, emphasising the importance of adherence to established procedures.

BoG said it is currently engaging financial institutions and other stakeholders to identify the root causes of the challenges and ensure a swift resolution.

“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 Bank appreciates the feedback received from affected persons. BoG is actively reviewing the matter and engaging with relevant institutions to identify the source of the issues and ensure prompt resolution,” part of the statement said.

The central bank reaffirmed its commitment to maintaining a stable and enabling financial system that supports legitimate cross-border transactions, including digital earnings classified as service exports.