The Bank of Ghana (BoG) has revoked the Dedicated Electronic Money Issuer (DEMI) licence of ZeePay Ghana Ltd, citing multiple regulatory breaches and the company’s failure to comply with directives aimed at protecting users of its payment services.
In a notice issued on Tuesday, July 14, 2026, the central bank said the revocation was carried out under Section 13 of the Payment Systems and Services Act, 2019 (Act 987), and takes immediate effect.
According to the BoG, ZeePay’s continued non-compliance with regulatory requirements posed risks to customers, agents, merchants and the wider payment ecosystem.
The regulator said ZeePay issued electronic money without maintaining the required corresponding cash backing, resulting in a negative variance and exposing users and the payment system to potential risks.
The Bank of Ghana further stated that the company failed to comply with directives requiring it to inject sufficient funds to fully back customers’ e-money balances and to wind down its electronic money issuance business.
“ZeePay’s continuous use of its DEMI licence constitutes a threat to the stability of the payment system,” the notice said.
The central bank assured affected ZeePay wallet holders, including agents and merchants, of support and advised them to contact its dedicated support team for assistance.
The BoG said the action forms part of its mandate to safeguard financial stability, protect consumers and maintain the integrity of Ghana’s national payment system.
Affected users can reach the Bank of Ghana’s support team on 0593974486 or through [email protected] for further assistance.
