The Bank of Ghana (BoG) has rapidly revoked the Dedicated Electronic Money Issuer (DEMI) Licence of Zeepay Ghana Limited, citing numerous regulatory violations and a consistent failure to adhere to regulatory directives.
In a public announcement made on July 14, 2026, the central bank indicated that the revocation was due to Zeepay’s non-compliance with the stipulations of its DEMI Licence, which had become harmful to the interests of users and providers within the payment service ecosystem.
The notice stated that Zeepay had issued electronic money without maintaining the necessary cash backing, leading to a negative variance, and did not address the associated risk exposure to customers and the payment system.
Additionally, the company failed to follow directives from the Bank of Ghana to inject adequate funds to fully support the e-money balances of customers, agents, and merchants, as well as to cease its e-money issuance operations.
The Bank of Ghana emphasised that Zeepay’s ongoing use of its DEMI licence posed a risk to the stability of the payment system.
This revocation was executed in accordance with Section 13 of the Payment Systems and Services Act, 2019 (Act 987).
Affected Zeepay wallet holders, including agents and merchants, have been instructed to contact the Bank of Ghana’s support team at 0593974486 or via email at Complaints.office@bog.gov.gh.
The Bank of Ghana reiterated its dedication to financial stability, consumer protection, and the integrity of the national payment system.
