Business
Bank of Ghana Tightens Export Dollar Repatriation Rule with Harsh Penalties
The Bank of Ghana (BoG) has introduced stricter regulations requiring exporters to repatriate foreign exchange earnings within 120 days of shipment, effective October 30, 2025.
Failure to comply now carries severe penalties, including fines of up to 5,000 penalty units or imprisonment for up to 10 years, as the central bank works to reduce forex leakages and strengthen the cedi.
Under the new directive, export proceeds must be returned through the exporter’s nominated local bank within the 120-day window from the date of shipment.
The policy replaces earlier frameworks and forms part of ongoing IMF-backed reforms aimed at improving foreign exchange liquidity, supporting import needs, and stabilizing the domestic currency.
The BoG’s move targets persistent delays in repatriation that have contributed to reserve pressures and currency volatility. By ensuring export revenues—especially from gold, cocoa, oil, and other commodities—return quickly to Ghana’s banking system, authorities hope to enhance market liquidity and reduce reliance on external borrowing.
However, the 120-day deadline has raised concerns among exporters. Industry voices, including commentary on platforms like Instagram by export consultant @annaspioofficial, argue that international trade realities—such as shipping delays, buyer payment disputes, and documentation issues—often extend beyond 120 days. Critics warn that rigid enforcement could burden small and medium exporters, potentially affecting competitiveness or discouraging new export activity.
The central bank has maintained that the rules are firm and legally enforceable, with no general exemptions outlined. Exporters are urged to work closely with their banks, track payments diligently, and keep thorough records to meet the deadline.
This policy is part of broader efforts to rebuild Ghana’s foreign reserves and maintain recent cedi gains. Businesses operating under post-October 2025 shipments are advised to review compliance requirements immediately to avoid significant legal and financial risks.
Business
Ghana’s 5G Future Hinges on Speed and Scale – Telecom Expert Warns as NCA Targets Exclusivity Clause
Accra, Ghana – March 5, 2026 – Ghana risks falling behind the global 5G elite unless the country dramatically accelerates infrastructure rollout and connects mobile operators to active networks soon, according to respected telecom policy commentator Samuel Nii Narku Dowuona.
Speaking to Ghana News Global in response to the National Communications Authority’s (NCA) move to remove the 10-year exclusivity clause from Next-Gen Infraco’s (NGIC) 5G licence, Dowuona praised the regulatory shift but stressed urgency.
“5G infrastructure places any country among the elite in the world,” he said. “What we need to do in Ghana is to find a way to roll out the infrastructure wider and faster.”
NGIC, awarded exclusive rights in 2024 to build and operate a shared 5G network until 2034, has so far deployed only 49 sites nationwide—43 in Greater Accra, 2 in Ashanti, and one each in Western, Northern, Bono, and Central regions. No telecom operator (MTN, Vodafone, AirtelTigo, or others) is yet connected to deliver direct 5G services to customers.
Dowuona highlighted that while 5G won’t automatically attract big tech giants, it will draw multinationals in mining, oil & gas, manufacturing, healthcare, and agriculture by enabling efficient, real-time enterprise solutions.
He gave the example of a 5G-equipped ambulance streaming live data to a hospital doctor for remote care—technology that could save lives in emergencies.
The NCA’s proposed amendment, issued under Section 14 of the Electronic Communications Act, 2008 (Act 775), aims to promote competition, innovation, consumer choice, faster digital transformation, and efficient spectrum use. The change would take effect in 90 days unless NGIC successfully objects. The Authority also noted NGIC’s default on licence fee instalments, which it is addressing separately.
The regulatory pivot signals a potential shift toward a competitive 5G market, allowing operators to deploy independently or negotiate better terms with NGIC. Analysts say this could unlock enterprise-grade applications—remote surgery, precision agriculture, smart mining, and industrial IoT—while supporting President Mahama’s 24-Hour Economy vision.
With only 49 sites active and no commercial 5G services live, Ghana lags far behind regional peers like Nigeria, South Africa, and Kenya. Dowuona’s call for speed underscores a critical window: accelerate deployment and connectivity now, or risk missing the 5G economic dividend.
Business
5 Foreign Governments Pressure Ghana to Abandon Proposed Gold Royalty Overhaul
Foreign governments are reportedly pressing Ghana to reconsider a proposed overhaul of its gold royalty system, raising concerns that the move could significantly increase the tax burden on major mining companies operating in the country.
According to a report by Reuters, governments from Canada, Australia, China, South Africa, and the United States have raised diplomatic concerns about a new sliding-scale royalty regime currently before Ghana’s Parliament.
The proposed measure, introduced on December 19, 2025, would replace Ghana’s long-standing de facto 5% gold royalty with a price-linked system ranging from 5% to 12%. Under the new structure, royalty rates would increase automatically when global gold prices rise.
Potential Immediate Impact
With global gold prices currently trading above $5,000 per ounce, analysts say the practical effect could be immediate. Many large-scale mining operations in Ghana would likely fall directly into the 12% royalty bracket once the Legislative Instrument matures on March 6.
If implemented, the change would mark one of the most significant revisions to Ghana’s mining fiscal regime in years.
For more than a decade, mining companies have effectively paid a 5% royalty on revenue, alongside a 35% corporate income tax, a 3% Growth and Sustainability Levy, and other statutory charges such as withholding taxes, mineral rights fees, and surface rents.
When combined, the government’s share of mining revenue currently sits at roughly 48% to 50%.
Industry models suggest the new sliding-scale system could increase the effective government take to between 60% and 68%, potentially making Ghana one of the highest-taxed mining jurisdictions in the world.
Why Foreign Governments Are Concerned
Many of the world’s largest gold mining companies operating in Ghana are headquartered or financed through the countries now raising concerns.
Governments often advocate for stable fiscal regimes for companies investing abroad, particularly in capital-intensive sectors such as mining, where projects can require billions of dollars in upfront investment and operate for decades.
Sudden or steep changes in royalties can alter project economics, potentially affecting future investment decisions.
Transparency Questions
Analysts say the main issue is not the concept of a sliding-scale royalty itself. Many resource-rich nations adopt similar systems to capture larger shares of windfall profits during commodity booms.
Instead, the concern centers on how Ghana determined the 5%–12% range.
So far, the country’s Lands Ministry has not publicly released the economic modelling or fiscal analysis behind the proposal. Without that data, investors and industry groups have been forced to independently estimate the potential impact on profitability and long-term government revenue.
Publishing the government’s assumptions, analysts say, could help clarify whether the policy would strengthen Ghana’s fiscal position or risk discouraging future mining investment.
A Delicate Policy Balance
Ghana is Africa’s largest gold producer, and the mining sector remains one of its most critical economic pillars. The industry generates billions in export earnings and provides a significant share of government tax revenue and foreign exchange.
The proposed royalty reform highlights a familiar dilemma for resource-rich economies.
Rising commodity prices create opportunities for governments to capture a larger share of profits from natural resources. At the same time, tax regimes viewed as overly burdensome may discourage investment or shorten the lifespan of mining projects.
Until the government releases detailed fiscal modelling behind the proposal, uncertainty surrounding the policy is likely to persist — both among mining companies and Ghana’s international partners.
Business
Ghana’s Upcoming 5G Rollout to Open Door for Better Enterprise Solutions
Accra, Ghana – March 4, 2026 – The National Communications Authority (NCA) has formally proposed to cancel the exclusivity clause in Next-Gen Infraco’s (NGIC) 5G licence, a decision that—if approved—would end NGIC’s ten-year sole right to deploy and operate 5G networks in Ghana and allow other operators to roll out 5G services independently.
In a Notice of Proposed Licence Amendment issued under Section 14 of the Electronic Communications Act, 2008 (Act 775), the NCA stated that removing the exclusivity provision is “in the public interest” and will achieve four key objectives:
– Promote competition and innovation in 5G services
– Enhance consumer choice and service quality
– Accelerate nationwide digital transformation
– Ensure optimal and efficient use of spectrum as a national resource
The proposed change would take effect 90 days from the date of the notice unless NGIC successfully objects during the statutory consultation period. The NCA emphasized that the amendment follows due process and aligns with its mandate to regulate the sector transparently and in the national interest.
NGIC was awarded the 5G licence in 2024 with the exclusive right to build and operate a shared 5G network until 2034. All mobile network operators (MNOs) wishing to offer 5G services were required to partner with NGIC. As of early 2026, NGIC has deployed only 49 sites nationwide: 43 in Greater Accra, 2 in Ashanti, and one each in Western, Northern, Bono, and Central regions.
The NCA also disclosed that NGIC is currently in default of its licence fee instalment payments and said the Authority is addressing the matter under the relevant licence conditions and statutory provisions.
Implications for Ghana’s Telecoms Sector
The proposed removal of exclusivity is widely seen as a potential game-changer for Ghana’s digital economy. Industry analysts and telecom executives have long argued that a single-provider model risks delaying nationwide coverage, limiting innovation, and keeping 5G prices high.
Samuel Nii Narku Dowuona, a telecom policy commentator, told Ghana News Global that true 5G competition would accelerate enterprise solutions in mining, oil & gas, manufacturing, healthcare (e.g., real-time telemedicine from ambulances), and agriculture (e.g., precision farming via IoT sensors).
“5G is great for enterprise solutions,” Dowuona said. “Businesses can provide services more efficiently to clients. Think of an ambulance fitted with 5G gadgets communicating in real time with a doctor at a hospital—such a solution could have saved lives in recent emergencies.”
The NCA’s move signals a shift toward a more competitive 5G landscape, potentially allowing MTN, Vodafone, AirtelTigo, and other operators to deploy their own networks or negotiate better terms with NGIC.
Faster rollout could also help Ghana close the digital divide, improve e-government services, attract foreign tech investment, and support President Mahama’s 24-Hour Economy agenda.
NGIC has not yet publicly responded to the proposed amendment. The NCA reiterated its commitment to fair, predictable regulation that balances investment incentives with consumer benefits and efficient spectrum use.
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