• The Bank of Ghana has revoked Zeepay Ghana Ltd’s Dedicated Electronic Money Issuer (DEMI) licence, citing multiple regulatory breaches and persistent non-compliance.

• The central bank said Zeepay issued electronic money without sufficient cash backing and failed to comply with directives to protect customer funds and wind down its e-money issuance business.

• Affected Zeepay wallet holders, agents and merchants have been advised to contact the Bank of Ghana for assistance as the regulator works to safeguard customers and maintain the stability of Ghana’s payment system.

The Bank of Ghana (BoG) has revoked the Dedicated Electronic Money Issuer (DEMI) licence of Zeepay Ghana Ltd, effectively stopping the company from issuing electronic money and operating its e-wallet business in Ghana.

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The decision, which took effect on Tuesday, July 14, 2026, follows what the central bank described as multiple regulatory breaches and Zeepay’s continued failure to comply with directives issued by the regulator.

In a public notice, the Bank of Ghana said Zeepay had issued electronic money without maintaining enough cash to back customers’ balances, exposing customers and the country’s payment system to financial risk.

The central bank said the company also failed to comply with directives to inject enough funds to fully cover customers’, agents’ and merchants’ electronic money balances and to wind down its e-money issuance business.

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The Dedicated Electronic Money Issuer (DEMI) licence allows a company to issue and manage electronic money through digital wallets and payment platforms. 

The Bank of Ghana has advised Zeepay wallet holders, agents and merchants affected by the decision to contact its support team for assistance.

The central bank said affected customers can reach it through its dedicated complaints channels as it works to protect users of the payment system.

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Zeepay has been one of Ghana’s leading fintech companies, providing mobile money, cross-border remittances and digital payment services across several African countries.