Zeepay Ghana Ltd.’s Dedicated Electronic Money Issuer (DEMI) Licence has been withdrawn by the Bank of Ghana (BoG) with immediate effect due to numerous regulatory violations and persistent disregard for central bank guidelines.
The BoG stated that the decision was made in accordance with Section 13 of the Payment Systems and Services Act, 2019 (Act 987) in a statement released on Monday, July 14, 2026.
The central bank claims that Zeepay frequently disregarded the terms and conditions of its DEMI licence, putting consumers and the larger ecosystem of payment services at risk.
Zeepay issued electronic money without keeping the necessary cash backing, according to the BoG, which resulted in a negative variance that put consumers and the payment system at risk.
The complaint further stated that the corporation disregarded orders to wind down its electronic money issuing operations and to inject enough funds to completely back the electronic money balances of consumers, agents, and merchants.
National Cleanup Exercise led by Vice President Jane Nana Opoku-Agyemang and President John Mahama
Zeepay’s ongoing use of its DEMI licence, according to the Bank of Ghana, posed a risk to the stability of Ghana’s payment system.
For additional help, the central bank has encouraged all impacted Zeepay wallet holders, agents, and merchants to call the company’s support team at 0593974486.
The revocation takes effect immediately.
BoG Statement Below:
Source: newsthemegh.com