Bank of Ghana Authorizes 16 Entities to Trade in Forex for 2025
The Bank of Ghana (BoG) has granted authorization to 16 entities to engage in foreign exchange (forex) trading within the country.
This decision, made in accordance with Section 3.13.1 of the Ghana Interbank Forex Market Conduct Rules, underscores the Central Bank’s commitment to ensuring a regulated and transparent forex market.
According to the BoG, the authorization period will run from January 1, 2025, to December 31, 2025.
“Section 3.13.1 of the Ghana Interbank Forex Market Conduct rules stipulates; “Local and International FX Brokers who want to operate in Ghana’s forex market are required to obtain prior approval from the Bank of Ghana at the beginning of every calendar year.
“In line with the above, the Bank of Ghana has given authorisation for the under-listed FX Brokers to operate on the Ghana Interbank FX market effective January 01, 2025, to December 31, 2025,” stated the BoG.
List of the authorised FX Brokers:
1. IC Securities
2. SIC Brokerage
3. Black Star Brokerage
4. Serengeti Limited
5. Obsidian Acherner
6. Regulus
7. Sarpong Capital
8. Terika Financial Services Ltd
9. Laurus Africa
10. Shadeya International Investments Ltd
11. Savvy Securities
12. GFX Brokers
13. Crown Agents (Cross-Border Payments and Financial Services Providers)
14. CSL Capital (Cross-Border Payments and Financial Services Providers)
15. StoneX Financial Limited (Cross-Border Payments and Financial Services Providers)
The authorization of the 16 entities aligns with the Central Bank’s objective of maintaining stability within Ghana’s forex market by licensing entities that meet the required standards and operational guidelines. By regulating forex trading, the BoG seeks to curb market irregularities, enhance investor confidence, and ensure compliance with the nation’s financial policies.
The licensed entities are expected to adhere strictly to the rules governing forex trading in Ghana, including transparency in operations, fair pricing, and reporting obligations. The BoG has also reiterated its commitment to monitoring these entities to ensure compliance and safeguard the integrity of the forex market.
The authorization comes at a critical time as Ghana continues to navigate exchange rate volatility and external economic pressures. A regulated forex market is essential for fostering stability, promoting trade, and supporting economic growth.
