Payment Systems and Services ACT 2019, (ACT 987)
Section 9: A person who carries out payment service business without a licence commits an offence and if that person is
(a) an individual, is liable on summary conviction to a fine of not less than Ovo thousand penalty units and not more than four thousand penalty units or to a term of imprisonment of not less than four years and not more than seven years, or to both; or
(b) a body corporate, is liable on summary conviction to a fine of not less than four thousand five hundred penalty units and not more than seven thousand penalty units.
(2) A person who is convicted of an offence under subsection (1) shall immediately cease the operations of payment sewices.
Procedure to Follow
The company must undertake the following practical steps to qualify for a casino license in Ghana. It must be emphasized that the steps listed, though briefly stated, are non-negotiable and must be complied with at all costs in compliance with the Gaming Act.
Procedures Include:
- The company must be an established company registered under the Companies Act, 2019 (Act 992).
- The company must be registered with a minimum capital of US$2,500,000.00 and must agree to maintain an amount of cash or cash equivalent determined by the Gaming Commission of Ghana.
- The company must register with the Ghana Revenue Authority (GRA) and obtain a tax clearance certificate. The tax clearance certificate is a must do requirement of the application process.
- The company must register with Social Security and National Insurance Trust (SSNIT) and obtain a SSNIT clearance certificate. The SSNIT clearance certificate is a mandatory requirement of the application process.
- The company must have an identifiable office.
- The company must have a service mark logo registered with the Registrar of Companies in Ghana.
- The entity shall be partly or wholly Ghanaian owned. Section 14 of the Gaming Act, 2006 (Act 721) makes it mandatory for the company to be partly or wholly Ghanaian owned.
- The dirctors of the company shall be submitted to
criminal background checks by the Criminal Investigation Department (CID) of
the Ghana Police Service.
Further, as part of the application process, the entity is expected to provide the following additional documents: - Shareholders agreement.
- Financial and marketing plan that details the following
- Evidence of financial capability to generate the business
- Capital budgets
- 5-year financial projection and the assumptions made in considering the figures
- Marketing and financial plan
- The Directors shall submit a Personality Note (PN) and Anti-Money Laundering (AML) policy document.
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Responsible Institution
28th February Road, Finance Drv, Accra
- Email: info@mofep.gov.gh
- Website: www.mofep.gov.gh
- GPS: GA-144-2024
- Telephone: +233 302 747 197
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