Zeepay Ghana Limited has announced that it is working closely with the Bank of Ghana (BoG) and other relevant stakeholders following the revocation of its Dedicated Electronic Money Issuer (DEMI) licence.
In a statement issued after the central bank’s announcement, the fintech company said it was committed to ensuring an orderly, transparent and responsible process in the wake of the regulatory action affecting its mobile money wallet operations.
“Zeepay Ghana Limited is working closely with the Regulator and all relevant stakeholders to ensure an orderly, transparent and responsible approach following the revocation of the Company’s Dedicated Electronic Money Issuer Licence,” the company stated.
The company acknowledged concerns among customers, employees, agents, merchants and partners following the development and expressed appreciation for their patience and cooperation.
Zeepay assured stakeholders that it remained committed to supporting all parties throughout the process while maintaining open communication and engaging constructively with the Bank of Ghana.
“The Company remains committed to acting responsibly, maintaining open and transparent communication, and working constructively with the Bank of Ghana and all relevant stakeholders towards an orderly resolution,” the statement added.
The fintech firm said further verified updates would be communicated through its official channels as discussions and engagements with stakeholders progress.
The Bank of Ghana on Tuesday, July 14, revoked Zeepay Ghana Limited’s DEMI licence, citing alleged regulatory breaches under the Payment Systems and Services Act, 2019 (Act 987).
The central bank said the decision followed concerns including the company’s alleged failure to maintain sufficient backing for electronic money issued and non-compliance with regulatory directives.
The revocation has triggered responses from industry stakeholders, including the Digital Chamber of Ghana, which has urged customers and merchants to remain calm while regulatory processes are managed.
Zeepay, one of Ghana’s leading digital payment and remittance companies, has assured the public that it will continue to engage with authorities and stakeholders to address the situation.
