The Bank of Ghana (BoG) has revoked the Dedicated Electronic Money Issuer (DEMI) Licence of Zeepay Ghana Limited with immediate effect, citing multiple regulatory breaches and persistent failure to comply with regulatory directives.
In a public notice issued on July 14, 2026, the central bank said the revocation was based on Zeepay's non-compliance with the terms and conditions of its DEMI Licence, which had become detrimental to the interests of users and providers in the payment service ecosystem.
According to the notice, Zeepay issued electronic money without maintaining corresponding cash backing, resulting in a negative variance, and failed to rectify the associated risk exposure to customers and the payment system.
The company also failed to comply with directives from the Bank of Ghana to inject sufficient funds to fully back the e-money balances of customers, agents, and merchants, and to wind down its e-money issuance business.
The Bank of Ghana stated that Zeepay's continuous use of its DEMI licence constituted a threat to the stability of the payment system.
The revocation was carried out pursuant to Section 13 of the Payment Systems and Services Act, 2019 (Act 987).
Affected Zeepay wallet holders, including agents and merchants, have been directed to reach out to the Bank of Ghana's support team on 0593974486 or via email at
The Bank of Ghana reaffirmed its commitment to financial stability, consumer protection, and the integrity of the national payment system.