The Bank of Ghana (BoG) has revoked the Dedicated Electronic Money Issuer (DEMI) licence of Zeepay Ghana Ltd with immediate effect, citing repeated regulatory violations and persistent failure to comply with directives issued by the central bank.
In a statement released on Monday, July 14, 2026, the BoG said the action was taken under Section 13 of the Payment Systems and Services Act, 2019 (Act 987).
According to the central bank, Zeepay repeatedly breached the conditions governing its DEMI licence, with its non-compliance posing significant risks to customers and the country’s payment services ecosystem.
The BoG stated that the company issued electronic money without maintaining the required cash reserves to fully back those balances, resulting in a negative variance that exposed customers and the payment system to financial risk.
The statement further indicated that Zeepay failed to comply with directives requiring it to inject adequate funds to fully back the electronic money held by customers, agents and merchants. The company also did not adhere to instructions to wind down its electronic money issuance operations.
The central bank warned that allowing Zeepay to continue operating under its DEMI licence would pose a threat to the stability and integrity of Ghana’s payment system.
The Bank of Ghana has advised all affected Zeepay wallet holders, agents and merchants to contact the company’s customer support line on 0593974486 for assistance regarding their accounts.
The revocation of Zeepay’s DEMI licence takes immediate effect.
Source: 3news
