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.
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Source: www.myjoyonline.com