The Bank of Ghana has revoked the Dedicated Electronic Money Issuer (DEMI) licence of Zeepay Ghana Ltd, citing multiple regulatory breaches and failure to comply with directives.
In a public notice signed by the Secretary of the Bank, Aimee Vyda Quashie, the central bank announced that the revocation took effect on July 14, 2026. The decision follows findings that Zeepay issued electronic money without corresponding cash backing and failed to adhere to the terms of its licence and directives issued by the regulator.
The Bank of Ghana assured affected wallet holders that measures are in place to safeguard their interests and provided contact information for inquiries. The notice emphasized that the revocation was necessary to protect the integrity of Ghana’s financial system and ensure compliance with regulatory standards.
Zeepay, a leading fintech company in Ghana’s mobile money and remittance sector, had operated under the DEMI licence framework, which requires strict adherence to cash‑backing and transparency rules. The revocation marks one of the most significant regulatory actions in the sector in recent years, underscoring the Bank’s resolve to enforce compliance and maintain financial stability.
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