Source: https://rivet.global/blog/ghana-exporters-bog-repatriation-rules
Published: 2026-10-25 · Updated: 2026-10-25 · By William Sunjo M.

# Ghana's export proceeds rules: what the Bank of Ghana requires of exporters

The Bank of Ghana requires exporters to repatriate proceeds within a set period, with conversion rules for some sectors. What applies, what to keep.

## Key takeaways

- Ghanaian exporters must repatriate export proceeds to Ghana within the period set by the Bank of Ghana.
- The Bank of Ghana has at times required exporters in some sectors to convert part of their proceeds into cedis.
- Exporters can hold the rest in foreign currency accounts in Ghana.
- Banks track export documents and proceeds; unrepatriated proceeds can lead to sanctions.

A Tamale cashew processor ships to a buyer in Ho Chi Minh City. The dollars arrive at its Ghanaian bank, which checks the export documents, applies the Bank of Ghana's current rule for the sector and credits the proceeds to the processor's foreign currency account. Its finance team knows the rules have changed several times since 2022.

## Repatriation

Under Ghana's Foreign Exchange Act and Bank of Ghana rules, exporters must bring export proceeds into Ghana within a set period. Banks match proceeds to export documents and report unrepatriated proceeds.

## Conversion

To support the cedi, the Bank of Ghana has at times required exporters in some sectors to convert part of their proceeds into cedis, sometimes through specific arrangements for large exporters in mining and oil. Ask your bank which rule applies to your exports today.

## Holding foreign currency

Exporters can hold the rest in foreign currency accounts at Ghanaian banks and use it for permitted payments, such as imports and foreign services. Converting a planned amount ahead of payroll gives control over the rate, which has moved sharply at times.

## Records

Keep export declarations, invoices, contracts and payment records for each shipment. Service exporters keep contracts and evidence of the services.

## Paying into Ghana: the local rail

| What | Detail |
|---|---|
| Local rail | GhIPSS Instant Pay (GIP) |
| Run by | Ghana Interbank Payment and Settlement Systems, owned by the Bank of Ghana |
| Settlement | Seconds, 24/7 |

Source: [GhIPSS: Instant Pay](https://ghipss.net/). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

Rivet opens business accounts for registered companies after verification. Ghana-registered exporters must repatriate proceeds under Bank of Ghana rules, so check with your bank before receiving funds abroad. Where available, partners abroad who bank with Rivet can pay Ghanaian bank accounts through Rivet's payouts. Rivet is not a bank; regulated partner institutions hold the funds.

See [the GHS business payments guide](/blog/ghs-business-payments).

## Questions

### How long do Ghanaian exporters have to repatriate proceeds?

The period is set by Bank of Ghana rules under the Foreign Exchange Act. Check the current directive with your bank.

### Do exporters have to convert proceeds into cedis?

Some sectors have faced conversion requirements at various times. Ask your bank which rule applies to your exports now.

### Can exporters hold foreign currency?

Yes, in foreign currency accounts at Ghanaian banks, subject to the rules.

### Do service exporters follow the same rules?

Service exporters also repatriate proceeds through banks, with documentation of the services.