The Bank of Ghana (BoG) has revoked the Dedicated Electronic Money Issuer (DEMI) Licence of Zeepay Ghana Limited , effective 14 July 2026.
In a public notice, No. BG/GOV/SEC/2026/21, the central bank said the decision was taken pursuant to Section 13 of the Payment Systems and Services Act, 2019 (Act 987).
According to BoG, the revocation follows multiple regulatory breaches and Zeepay’s persistent failure to comply with regulatory directives and the terms of its DEMI Licence.
Specifically, the Bank stated that: Zeepay issued electronic money without maintaining corresponding cash backing, resulting in a negative variance and exposing customers and the payment system to risk and Zeepay failed to comply with BoG directives to inject sufficient funds to fully back e-money balances of customers, agents and merchants, and to wind-down its e-money issuance business.
The BoG said Zeepay’s continued operation under the DEMI licence constitutes a threat to the stability of the payment system and is detrimental to the interest of users and providers in the ecosystem.
The notice signed by Aimee Vyda Quashie, Secretary of the Bank said, affected Zeepay wallet holders, agents and merchants have been advised to contact BoG’s support team on Tel: 0593974486 or Email: Complaints.office@bog.gov.gh.
The Bank reaffirmed its commitment to financial stability, consumer protection, and the integrity of the national payment system.
