Forex Market Shake-Up: Bank of Ghana Slaps 150% Increase on Licence Renewals
Accra,Ghana – October 27,2025 - In a move aimed at bolstering regulatory oversight and ensuring long-term sustainability, the Bank of Ghana (BoG) has announced a significant increase in licence renewal fees for all foreign exchange bureaux operating in the country.
Effective immediately, the biennial licence renewal fee has been raised from GH¢800 to GH¢2,000, representing a substantial 150% surge. This upward review is part of the central bank's ongoing efforts to strengthen regulatory reforms and maintain financial discipline within the foreign exchange sector.
The BoG, in a statement dated October 24, reminded all licensed foreign exchange bureaux to renew their licences at least two months prior to expiry, as mandated by Section 10 of the Foreign Exchange Act, 2006 (Act 723) and Paragraph 8 of Bank of Ghana Notice No. BG/GOV/SEC/2003/2 under the Revised Forex Bureau Regulations.
The fee hike is expected to have far-reaching implications for licensed foreign exchange bureaux, which will need to adapt to the new regulatory landscape and absorb the increased costs. While some operators may pass on the additional expenses to customers, others may explore innovative strategies to maintain competitiveness and profitability.
Source – Lead News Online
