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BoG grants approval to 16 forex brokers

The rules provides that local and international FX Brokers who wish to operate in Ghana’s forex market are required to obtain prior approval from the Bank of Ghana at the start of each year

At least sixteen foreign exchange (FX) brokers have been granted approval by the Bank of Ghana to commence operation on the Ghana Interbank Forex Market effective 1 January.

A statement issued by the BoG on Friday (5 January) says the move is in accordance with section 3.13.1 of the Ghana Interbank Forex Market rules.

The rules provides that local and international FX Brokers who wish to operate in Ghana’s forex market are required to obtain prior approval from the Bank of Ghana at the start of each year.

The authorized FX brokers are Black Star Brokerage, CSL Capital, Fenics MD, ICAP Broking Services South Africa, Obsidian Archerner, Regulus, Sarpong Capital, Savvy Securities and Terika Financial Services Ltd.

The rest include Serengeti Limited, IC Securities, GFX Brokers, Laurus Africa, Shadeya Investments, Apakan Securities and SIC Brokerage.

Below is the full statement: 

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