Ghana is tightening its regulations on foreign currency to combat money laundering. Starting September 1, 2025, travelers entering or leaving the country will face new declaration requirements for carrying foreign cash and monetary instruments.
Under the new guidelines, which amend the Foreign Exchange, Anti-Money Laundering, and Customs Acts, travelers can carry up to US$10,000 or its equivalent without any declaration. However, anyone carrying an amount exceeding this threshold must declare the full sum using a Foreign Currency Declaration Form (FX-5) from the Customs Division of the Ghana Revenue Authority (GRA).
For inbound travelers, amounts over US10,000 must also be accompanied by proof of declaration from their port of origin. Outbound travelers with more than US50,000 will have even stricter requirements, needing to provide a signed bank slip or foreign exchange bureau receipt to prove where the money came from.
The new rules also apply to importers, who must show endorsed bank slips or bureau receipts for their foreign currency transactions, along with valid import documents. The guidelines classify a wide range of items as “monetary instruments,” including coins, traveler’s checks, and even gold, silver, and precious stones.
Penalties for non-compliance are severe. Anyone who fails to declare funds, makes a false declaration, or doesn’t provide the required documents could face the immediate seizure of the undeclared amount, fines, or even criminal prosecution.
Furthermore, the guidelines explicitly state that foreign currency cannot be sent through mail or cargo, and any such funds will be confiscated by the state.
Ruth Abla ADJORLOLO
