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News

Zeepay’s Licence Revocation is Not a Reflection of Ghana’s Broader Digital Finance Health — Digital Chamber

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The Digital Chamber of Ghana has stated it is actively involved with the Bank of Ghana in finding a solution to revocation of the Dedicated Electronic Money Issuer (DEMI) license of Zeepay. In a statement released on July 14,2026,the Chamber which serves as the national industry body representing all Dedicated Electronic Money Issuers in Ghana acknowledged the central bank’s statutory mandate to safeguard the integrity, stability, and soundness of Ghana’s payment system while assuring its member institution of its active engagement in addressing the development in a coordinated and responsible manner. The Chamber also added that it recognizes Zeepay as a valued member and acknowledges its significant contribution made over the years to advancing digital payments, financial inclusion, and cross-border remittances in Ghana and across Africa. The Chamber also states that it is collaborating closely with the Bank of Ghana to ensure those affected by the incident are protected, as well as take the necessary steps to minimise disruption while maintaining consumer confidence in Ghana’s digital payment system. It therefore advised the customers, agents and merchants to exercise caution, adhere to instructions given by the Bank of Ghana and communicate through the Customer support and resolution channels set up by the Bank of Ghana (0593974486, Complaints.office at bog.gov.gh). The Digital Chamber further reassured the public that the regulatory action relates specifically to Zeepay and should not be interpreted as a reflection on the resilience of Ghana’s broader digital finance ecosystem. “Ghana’s digital finance sector continues to be underpinned by a robust regulatory framework and a diverse community of licensed providers committed to compliance, innovation and responsible financial services,” the Chamber stated. The Digital Chamber of Ghana is the national representative body for Ghana’s Dedicated Electronic Money Issuers and the broader digital finance ecosystem, bringing together Electronic Money Issuers and fintech partners including AT Money, G-Money, MobileMoney Fintech Limited (MTN MoMo), Telecel Cash, Zeepay, and other ecosystem players.

News, Uncategorized

Bank of Ghana Revokes Zeepay Ghana’s Electronic Money Licence Over Several Regulatory Breaches

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The Bank of Ghana has announced the revocation of the Dedicated Electronic Money Issuer (DEMI) Licence of Zeepay Ghana LTD (Zeepay) citing various regulatory breaches. The Bank of Ghana added that the suspension which takes place effective today, 14th July 2026 is also as a result of Zeepay’s persistent failure to not only adhere to regulatory directives but also failure to abide by the terms and conditions of its DEMI Licence. “i.Issued electronic money without maintaining corresponding cash backing, resulting in a negative variance and failed to rectify the associated risk exposure to customers and the payment system.ii.Failed to comply with directives by the Bank of Ghana to:• Inject sufficient funds to fully back the e-money balances of customers, agents and merchants; and• Wind-down its e-money issuance business.” The statement read The central bank then highlighted that these breaches makes it necessary to protect the interests of users and providers in the payment and services ecosystem. “Zeepay’s continuous use of its DEMI licence constitutes a threat to the stability of the payment system.” BoG added The Central Banl however urged affected wallet holders to contact its support team reiterating its commitment towards the stability and integrity of the national payment system. Zeepay is a Ghanaian financial technology company that operates as a mobile money wallet and remittance service.

Business

GoldBod Jewellery Alerts Public to Website Change ,Old Website No Longer in Use

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GoldBod Jewellery Limited has announced a change in its official e-commerce website, directing customers to its new online shopping platform . In a statement released,the company stated that its new official online shopping platform is now accessible at www.goldbodjewellery.gov.gh effective July 13, 2026. GoldBod Jewellery Limited further noted that the previous website www.jewellery.goldbod.gov.gh is no longer in use and hence should be disregarded. The company then encouraged the public to patronize proudly Ghanaian made gold jewellery and make use of its official website. GoldBod Jewellery Limited is a Ghana Gold Board (GoldBod) subsidiary that is the country’s top state-owned luxury jewellery brand established to convert responsibly mined gold from Ghana to make world-class handcrafted jewellery and investment gold tablets.

Consumer

Ghana Water Ltd Dismisses Social Media Claims of Sewage Contamination,Describes Viral Video as False and Misleading

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Ghana Water Limited (GWL) has dismissed claims circulating on social media that a burst pipeline inside an overflowing sewage chamber is contaminating its potable water supply, describing the allegations as false, misleading, and without any factual or technical basis. This comes after the circulation of a video on social media purporting to show a Ghana Water pipeline inside a sewage chamber allowing sewage to enter the company’s drinking water distribution system. In its response to this, GWL explained that following assessments by its engineers and technical experts, it was confirmed that the pipeline shown in the video is not a Ghana Water Ltd pipeline but rather a trunk sewer inlet pipeline which is designed to convey wastewater into the sewage chamber as part of the sewerage system. The Utility Company also added that the assessment also revealed that that there is no Ghana Water pipeline within the sewage chamber and no burst, damaged, or exposed GWL pipeline at the location hence describing the allegation as entirely unfounded. Ghana Water Ltd went ahead to assure the public that its potable water infrastructure is completely separate from sewerage systems and is designed and maintained to prevent any interaction between drinking water and wastewater. The company added then added that water supplied by GWL undergoes rigorous treatment, continuous operational monitoring, and routine laboratory testing to ensure compliance with the Ghana Standards Authority’s drinking water quality standards. GWL hence urged the public to disregard the misleading video and rely only on verified information from the company’s official communication channels.

News

Ghana Association of Banks hits back at MP, says banks remain essential service providers following MP-bank staff confrontation over national clean-up exercise.

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The Ghana Association of Banks has hit back at the Member of Parliament for the Okaikwei North Constituency, Theresa Lardi Awuni over her a confrontation between her and the Managing Director of a member bank during the National General Cleaning exercise directed by the President following the recent floods on Friday on Friday, July 10, 2026. In a statement released on July 13, 2026, the association explained that under Imposition of Restrictions Act, 2020 (Act 1012), banks and other financial institutions were listed as essential institutions and hence were “were exempted” from the closure directive by government ahead of the clean up. GAB then explained that in line with the press release issued by the Ministry of Local Government, Chieftaincy and Religious Affairs on the two-day exercise, which stated in part that “to ensure full participation and effective execution of the exercise, all shops, markets, commercial establishments, corporate organisations and other non-essential businesses within the affected regions shall remain closed between 6:00am and 1:00pm. Institutions providing ESSENTIAL and EMERGENCY services are exempt”, it also directed its member banks including the bank involved in the incident to keep their branches open during the stated hours while their staff actively participated in cleaning the immediate surroundings of their branch premises. The association however clarified that it nonetheless doesn’t condone “any conduct by a member bank that flouts a lawful government directive” adding that it will not hesitate to address such conduct should Incase it happens. The association also stated categorically that it is in the same vain that it will not also not accept any conduct by any individual or group of persons which seeks to demean, intimidate, or undermine the integrity of staff of any of its member banks, who are not engaged in any unlawful activity. “As law abiding and significant tax paying sector, we will not tolerate any such acts of intimidation and use of abusive language on staff of our member banks by anyone or group of people.” The statement read The association then assured the public of its commitment to complying with government directives while responsibly serving the banking needs of the nation and called for a more measured and constructive engagement with member banks on matters of public interest. The Ghana Association of Banks is the country’s leading mouthpiece for the universal banking sector, currently representing the interests of 23 member banks and the Development Bank. The Association was established on 29th May 1980.

Economy

Finance Ministry Completes Restructuring of Outstanding SADEREA Notes

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The Ministry of Finance has announced the successful exchange of its the outstanding SADEREA Notes as it nears the completion of the external debt restructuring program. This exchange marks a major milestone in the country’s economic recovery and resolves the last outstanding component of its sovereign bonded debt restructuring. This comes after 12.5% of Senior Secured Amortising Bonds were issued earlier to finance capital expenditure in Ghana’s health sector. Out of the original US$253.2 million issued earlier , approximately US$117.8 million inprincipal remained outstanding as at January 2026. With the completion of outstanding SADEREA Notes government is showing its commitment towards restoring debt sustainability, strengthening investor confidence, and maintaining macroeconomic stability.

Banking & Finance

CalBank Records GHS353.6 Million Profit in First Half of 2026

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CalBank PLC has reported GHS353.6 million profit for the first half of 2026 financial year. This represents a a 25% increase in Profit Before Tax (PBT) compared with the GHS283.2 million recorded in the same period last year with the increase in profit revealing a robust growth across the bank’s core banking franchise. CalBank explained that this performance was “underpinned by broad-based growth across all major income lines, including net interest income, fees and commissions, and trading income.” Net Interest Income recorded for the period also increased by 83% to GHS347.5 million, driven by higher interest income and significantly lower funding costs. Despite a lower interest rate environment, interest income grew to GHS451.5 million from GHS399 million, while interest expense declined by more than half to GHS104 million from GHS209 million. The Bank also continued to diversify its revenue base, with net fees, commissions and trading income increasing by 99% to GHS323.3 million, nearly double the GHS162.7 million recorded during the same period last year. Net impairment gains also contributed GHS7 million to first-half profit, compared with approximately GHS154 million contributed during the same period in 2025. The banks assets also assets appreciated by 30% during period, bringing to GHS13.9 billion, compared with GHS10.7 billion at the end of June 2025. Customer deposits also increased by 30% to GHS10.9 billion, reflecting sustained customer confidence. Non-Performing Loan (NPL) Ratio also declined to 10.10%, from the 51.60% archived at the end of June 2025. Capital Adequacy Ratio (CAR) for the period also improved to 18.17%, compared with negative 7.6% at the end of June 2025, while liquidity remained strong, providing a solid foundation to support future growth. The bank then reiterated its commitment to executing its strategic priorities, deepening customer relationships, maintaining prudent risk management, and delivering sustainable and enduring value to its shareholders. CalBank PLC is a prominent, commercial bank in Ghana licensed by the Bank of Ghana. Established in July 1990, the institution delivers retail, corporate, investment, and private banking services across the country.

News

GACL Deploys State-of-the-Art Security Screening Equipment at Accra International Airport

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The Ghana Airport Company Limited(GACL)has announced the deployment of new, state-of-the-art security screening equipment at its passenger screening checkpoints in Terminals 2 and 3 of Accra International Airport. In a statement released on July 12,2026 GACL explained that the move is aimed at strengthening its security screening while’s also improving the passenger experience. Following the deployment of this state-of-the-art security screening equipment, travels no longer need to remove their laptops, Liquids, Aerosols and Gels from their cabin baggage during screening as separate screening. Travellers can now also with the introduction of this new equipment,keep on their shoes and belts during the screening process. Management also added that they have also introduced a new Automatic Tray Return System which is expected to fasten the screening process by ensuring return trays quickly get to passengers for repacking of divested items. According to management, migration from the old system to this new one is expected to be done progressively with time. GACL urged customers to fully corporate to make the process easier and more convenient for everyone.

Africa

Africa’s Capital Flowing in Wrong Direction: Diplomat Urges Pivot from Trading to Production

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Ghana’s High Commissioner to Namibia and Botswana, Abdul-Rahman Harruna Attah,has called for a fundamental reorientation of how capital is deployed across the continent, urging a decisive shift away from retail and trading activity toward building productive businesses that generate lasting economic value. Speaking exclusively with Business Outlook Africa, the veteran journalist, publisher and author argued that Africa’s capital is flowing in the wrong direction and until that changes development will remain elusive. “We don’t encourage capital to go to where it should go to.We use capital to build businesses and move away from the entire retail.” he stated He also called on President Mahama and African leaders to design programs and projects that get young people thinking, working, and contributing to their economies again arguing that any government serious about Africa’s development must start with young people unashamedly and unapologetically. “He should unashamedly start with the youth, honestly. He should work out programmes and projects and whatever that would involve the young people.I think that is the first thing you should do, get the young people thinking and working again.”he added In accessing the Ghanaian middle class, the veteran journalist and publisher described the middle class as being part of the “Ghanaian problem” calling them out for exhibiting “greed, selfishness, and incompetence” instead of the middle class meeting to debate innovative architecture or engineering solutions for the nation. “It is a problem, I’ve always said. Our problem is the Ghanaian middle class.We are the problem. We are the problem. We exhibit all the negative things.Greed. Selfishness. Incompetence.Everything we exhibit. Corruption. Just look at us.But nothing. We don’t see any creative structure coming out of how we interact with each other. I don’t see us sitting amongst ourselves talking architecture.No, I don’t. Honest. I don’t see us sitting amongst ourselves talking engineering.” he stated .  

News

Leadership, jobs, creativity, capital — Harruna Attah’s four-point case for Africa’s future

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Ghana’s High Commissioner to Namibia and Botswana, Abdul-Rahman Harruna Attah,has named leadership as Africa’s fundamental development problem. Speaking with Business Outlook Africa, the veteran journalist, publisher and author urged African leaders to take the lead on development rather than deferring responsibility or retreating behind historical grievances.He cited Rwanda and its president, Paul Kagame, as proof of how effective leadership can drive national progress. “It’s our leaders. You don’t want to sound too critical and that kind of thing, but our leaders should take the lead. Look at this young man and what he’s doing in Rwanda.I’ve been to Rwanda two times. And I’ve seen how the level of structure and development and even social discipline is big, which is a big problem for all of us in Africa. And he’s getting it right. So you think leadership is our problem? It’s our problem.” he stated When asked about his greatest worry about the continent,Harruna Attah pointed out to “The lack of jobs” as his greatest worry about the continent. He however stated that going forward he believes the creative industry not only has what it takes to help deal with the “lack of jobs” but also has what it takes to produce more wealthy individuals for the continent. “I can say without batting an eyelid, the creative industry. Because that’s what will bring out the best in us and let us innovate and without innovation you can’t move.”he added The High Commissioner to Namibia and Botswana also called for the country’s banking system to design dedicated facilities that allow young people to access small amounts of capital to start businesses. The veteran journalist and publisher stated that it is important for society to create such windows, cautioning against the current banking culture that overwhelmingly favours big businesses over young entrepreneurs. “Let’s have a system, a banking system that has facilities for young people to draw on a little capital here and there.That’s very important for society to do.But we think banks should help only big businesses. That is wrong.We should have room for a young man, young woman to go and get a few thousands of cedis to invest in this and that. But we don’t have it. Our banks are just there for big businesses, for big loans. No, but that’s not where the development comes from.” he argued. Africa’s population, currently estimated at roughly 1.58 billion, is projected to reach 2.5 billion by 2050, driven by high fertility rates and declining mortality. By then, one in four people globally will be African, with nearly 40% of the world’s youth living on the continent.