Zeepay Ghana Limited has pledged to cooperate fully with the Bank of Ghana (BoG) following the revocation of its Dedicated Electronic Money Issuer (DEMI) Licence, while the Digital Chamber of Ghana has appealed to customers, agents and merchants to remain calm, assuring the public that Ghana’s broader digital payments ecosystem remains stable and resilient.
The response comes barely hours after the Bank of Ghana announced the immediate revocation of Zeepay’s DEMI Licence on July 14, 2026, citing multiple regulatory breaches and persistent non-compliance with directives issued under the Payment Systems and Services Act, 2019 (Act 987).
In its public statement, Zeepay acknowledged the central bank’s decision and disclosed that it is engaging closely with the regulator and all relevant stakeholders to ensure what it described as an orderly, transparent and responsible process following the withdrawal of its electronic money licence.
The company stated that it remains committed to supporting all stakeholders throughout the regulatory process, recognising that the development may create uncertainty among customers, agents, merchants, employees and business partners.
“We recognise the concerns that this development may cause and sincerely appreciate the patience, understanding and continued cooperation of our customers, employees, agents, merchants, partners and the wider public during this period,” the company said.
Zeepay further assured stakeholders that it would continue to act responsibly, maintain transparent communication and work constructively with the Bank of Ghana towards what it described as an orderly resolution.
The company added that any further verified information would be communicated through its official communication channels.
The Bank of Ghana revoked Zeepay’s licence after determining that the company had issued electronic money without maintaining the required cash backing for customer balances, creating a negative variance that exposed customers and the payment system to risk.
The central bank also stated that Zeepay failed to comply with directives requiring it to inject sufficient funds to fully back customers’ electronic money balances and to wind down its electronic money issuance business.
According to the regulator, Zeepay’s continued operation under its Dedicated Electronic Money Issuer Licence constituted a threat to the stability and integrity of the national payment system, making regulatory intervention necessary to protect consumers and maintain confidence in the country’s digital financial ecosystem.
Following the Bank of Ghana’s action, the Digital Chamber of Ghana, the umbrella body representing Dedicated Electronic Money Issuers (DEMIs), also issued a public statement expressing support for the central bank’s regulatory mandate while acknowledging Zeepay’s longstanding contribution to Ghana’s fintech industry.
The Chamber described Zeepay as a valued member that has played a significant role in promoting digital payments, financial inclusion and cross-border remittance services across Ghana and Africa.
At the same time, it affirmed its respect for the authority of the Bank of Ghana to take regulatory action whenever it deems such intervention necessary under the law.
The Chamber disclosed that it has been working closely with the Bank of Ghana throughout the regulatory process and remains actively engaged with the central bank and member institutions to coordinate an orderly response aimed at protecting consumers and preserving confidence in Ghana’s digital finance sector.
“Our shared priority is to ensure that affected consumers, agents and merchants are protected and that appropriate measures are implemented to minimise disruption while maintaining confidence in Ghana’s digital payments ecosystem,” the Chamber stated.
It therefore encouraged all affected customers, agents and merchants to remain calm and to follow the official guidance issued by the Bank of Ghana by contacting the central bank’s support channels for assistance regarding their funds and related concerns.
The Digital Chamber further emphasised that the regulatory action is institution-specific and should not be interpreted as a sign of weakness within Ghana’s wider digital payments industry.
According to the Chamber, Ghana’s digital finance sector continues to be supported by a robust regulatory framework and a diverse network of licensed electronic money issuers and fintech operators committed to regulatory compliance, innovation and responsible financial service delivery.
The Chamber reaffirmed its commitment to working collaboratively with the Bank of Ghana, fintech companies and other industry stakeholders to strengthen governance standards, enhance consumer confidence and support the continued growth of Ghana’s rapidly expanding digital economy.
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