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.
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