The Bank of Ghana (BoG) has revoked the Dedicated Electronic Money Issuer (DEMI) Licence of Zeepay Ghana Limited, effective Tuesday, July 14, 2026.
According to the central bank, the decision was taken under Section 13 of the Payment Systems and Services Act, 2019 (Act 987), following multiple regulatory breaches and Zeepay’s failure to comply with directives and conditions attached to its licence.
The Bank of Ghana said Zeepay issued electronic money without maintaining the required corresponding cash backing, creating a negative variance and exposing customers and the wider payment system to risks.
The regulator added that the company failed to comply with directives to inject sufficient funds to fully back electronic money balances belonging to customers, agents, and merchants, as well as instructions to wind down its e-money issuance business.
The BoG warned that Zeepay’s continued operation under the DEMI licence posed a threat to the stability and integrity of Ghana’s payment ecosystem.
Affected Zeepay wallet holders, including agents and merchants, have been advised to contact the Bank of Ghana’s support team through 0593974486 or via Complaints.office@bog.gov.gh for assistance.
The Bank of Ghana assured the public of its commitment to protecting consumers, maintaining financial stability, and safeguarding the national payment system.
By: Bernard Mensah |Planbfmonline.com
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