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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.

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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.

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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.

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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.

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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.  

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MobileMoney Fintech LTD Announces Rebranding of XtraBalance to ‘MoMo Boost’

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MobileMoney Fintech LTD has announced a major upgrade to its financial services ecosystem. In a post made on Friday, July 10,2026 the Mobile money giant revealed its plans of rebranding that its popular “XtraBalance” to “MoMo Boost.” The Mobile money giant also added that as a result of this there will be temporary interruptions in its services from Sunday,July 12 to Tuesday ,July 14,2026. The Company however stated that all other MoMo services are expected to run smoothly as they won’t be affected by the temporary interruption. “You can still send money, buy airtime, pay bills, and use your regular wallets just like always.” The post read The company then expressed its appreciation towards its customers and reiterated its commitment towards bringing more value to its customers. MTN XtraBalance is an instant credit service provided by MTN MoMo in partnership with Forms Capital. It acts as an overdraft or extension on customer’s mobile wallet and also allows customers to complete transactions-like buying airtime, sending money, or paying bills-even when their balance is low.

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University of Ghana Gets 42-Unit ICT Lab as Telecel Ghana Strengthens Academic-Industry Ties

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Telecel Ghana has handed over a fully equipped 42-unit ICT lab to the University of Ghana. This comes as a response to a request from the University’s leadership and forms part of the corporate social responsibility(CSR) of the telecommunications company. The Computer laboratory, is designed to advance digital learning, research, and innovation at Ghana’s premier university especially in this age of AI. The development marks the latest chapter in a partnership that has spanned more than 15 years, with dedicated internet and connectivity solutions at the University of Ghana at its core since 2010. Telecel then expressed its commitment towards improving internet connectivity and the digital education ecosystem in the country. “We remain committed to strengthening Ghana’s digital education ecosystem.”

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Bank of Ghana Reports 48% Surge in Fraud Cases to 24,778 in 2025

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The Bank of Ghana has released the 2025 Fraud Report for Banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers(PsPs) with total fraud counts rising to 24,778 in 2025. The report also indicated a 48% increase in fraud counts compared to the previous 16,733 in 2024 and the previous 15,164 recorded in 2022. In terms of value, year-on-year value increased marginally from GH¢ 99 million in 2024 to GH¢ 101 million in 2025. The aggregate value of risk from 2022 to 2025 however tells a different story with a significant increase from GH¢ 82 million to GH¢ 101 million. An industry-to-industry analysis of the total fraud cases pointed out to Payment Service Platforms as the only industry to have recorded an increase in fraud cases having accounted for approximately 97.36% (24,124 )of the total fraud counts (24,778) for the year 2025. The Banks and SDIs on the other hand both saw a decline in fraud counts for the 2025 financial year with the former and later recording 472 counts and 182 counts as against the 716 counts and 344 counts recorded in 2024 respectively. Despite seeing a decline in fraud counts, the 95% for SDIs however increased by 77% for the same period bringing the total value at risk for SDIs to GH¢ 8m. PSPs also recorded a rise of 95% in its total value at risk having increased from the GH¢19m recorded in 2024 to the GH¢37m recorded this year. Banks on the other hand also saw a 24% decline in the total value at risk from the GH¢75m to a positive GH¢57m indicating a reduction in fraud counts for banking institutions. Published by the Financial Stability Department of the Bank of Ghana, the report highlights how increasing digitalisation and innovation in the financial landscape are continuously evolving fraud risks, making constant vigilance and strengthened controls necessary.

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UniMAC Appoints Ernest Ofori Sarpong As First Chancellor

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The University of Media, Arts and Communication (UniMAC) has announced the appointment of Ghanaian businessman,Ernest Ofori Sarpong, as its first Chancellor effective 1st August 2026. In a statement released on July,7 2026,UniMAC explained that the appointment was been approved by its Governing Council on the 26th of May 2026, at its meeting. Pursuant to the provisions of UniMAC Statutes, Mr Ofori Sarpong in his new role “will serve as the Ceremonial Head of the University, providing distinguished leadership, championing the University’s vision and strategic interests, strengthening its engagement with industry and society, and conferring degrees and other academic honours on behalf of the University.” Mr Ofori Sarpong is one of Ghana’s most accomplished entrepreneurs and business leaders. Over the years, he has built and led successful enterprises across manufacturing, real estate, finance, construction, and media, making significant contributions to private-sector growth, job creation, and socio-economic transformation in Ghana and beyond. He is currently the Founder and Chief Executive Officer of the Special Group of Companies and also a co-owner of United Television (UTV), Best Point Savings and Loans Limited, and U2 Salt Limited. He currently serves as Board Chairman of the Governing Council of Presbyterian Boys’ Secondary School (PRESEC), Chairman of the EMY Africa Awards, Chairperson of the Advisory Board of the Millennium Excellence Foundation, and Chairman of the Advisory Board of the College of Health Sciences, University of Ghana.He is also the Global President of the PRESEC Old Boys Association (PRESEC-ODADEƐ). Mr Ofori Sarpong holds a Master of Science degree in Finance and Investment Management from the University of Salford in the United Kingdom and is currently pursuing a Doctor of Business Administration at École Supérieure de Gestion (ESG), France. According to the governing council of the University, Mr Ofori Sarpong’s appointment reflects their expressed confidence in his exemplary leadership, wealth of experience, and enduring commitment to excellence . The Council is certain that under his stewardship, UniMAC will successfully strengthen its industry ties, expand strategic partnerships, and solidify its status as the nation’s premier institution for media, arts, and communication.

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DVLA Denies Alleged GH¢308K Theft Involving National Service Personnel

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The Driver and Vehicle Licensing Authority (DVLA) has reacted to recent media publications concerning its operations. In a statement released on Tuesday, July 7, 2026, the Authority denied reports by some media houses that a National Service Personnel stole from its coffers. According to the earlier media reports, the National Service Personnel in question allegedly stole GH¢308,000 to purchase a Hyundai Elantra saloon car, a 50-inch Samsung TV, and to pay a sibling’s school fees. The Authority however sought to clarify that that that the alleged money involved does not belong to the DVLA and was not stolen from any of its official accounts. The institution however stated that the matter under investigation is a purely personal dispute involving a former National Service Personnel who is currently on a contract role with them. “The matter under investigation is a personal dispute involving an individual who happens to be a former National Service Personnel assigned to the DVLA and currently on contract. At no point has the Authority suffered any financial loss in relation to this case.,” the statement read. The management then urged media houses and the general public to exercise restraint and accuracy “in reporting on the matter to avoid creating the erroneous impression that public funds belonging to the DVLA have been misappropriated.” DVLA then expressed its commitment towards upholding the highest standards of integrity and cooperating fully with the police. The Driver and Vehicle Licensing Authority  is the public institution responsible for the registration and licensing of vehicles and drivers in Ghana. It operates under the Ministry of Transport, ensuring road safety and standard compliance across the country while running secure financial systems for all its public transactions.