Black Star Alleges BoG Revoked FX Licence Without Notice

The Bank of Ghana (BoG) has failed to renew Black Star Brokerage’s (BSB) authorisation to operate in the country’s foreign exchange market for 2026.

According to BSB, the BoG made this decision without prior notice to the firm, prompting the company to seek clarification on the matter.

In a letter dated 7 January 2026, signed by CEO Nana Agyei Opoku-Agyemang and Head of Global Markets George Boafo Addae, BSB requested the BoG to reconsider its decision and include the firm among the authorised FX brokers for 2026.

BSB highlighted its decade-long market impact and strong compliance record, emphasising its contribution to the orderly functioning of the Ghana Interbank FX Market.

The company also asked the BoG to provide the specific grounds for the decision and outline the remediation steps necessary for reconsideration, should the exclusion be due to non-performance or regulatory breaches.

Founded in 2008, Black Star Brokerage is a full-service broker-dealer providing comprehensive market access to institutional and retail clients across multiple asset classes in Ghana and internationally.

The firm maintains a robust regulatory profile, including licensing by the Securities and Exchange Commission (SEC) of Ghana as a broker-dealer and issuing house, and membership of the Ghana Stock Exchange (GSE) and Ghana Fixed Income Market (GFIM).

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