Zeepay DEMI licence revoked by BoG
Analysis based on 8 articles · First reported Jul 15, 2026 · Last updated Jul 15, 2026
The revocation disrupts Zeepay's mobile money operations, potentially affecting customer balances and agent networks. It may erode confidence in Ghana's digital payments sector, though the Digital Chamber downplays systemic risk.
On July 14, 2026, the Ghana — Bank of Ghana revoked Zeepay's Dedicated Electronic Money Issuer (DEMI) licence under Section 13 of the Payment Systems and Services Act, 2019, citing breaches including issuing electronic money without maintaining required cash backing, creating a negative variance that exposed customers and the payment system to financial risks. Zeepay also failed to comply with directives to inject sufficient funds and to wind down operations. The revocation halts new mobile money transactions. Zeepay responded on July 15, stating it is working with the regulator for an orderly resolution. The Digital Chamber backed the BoG's action. Separately, Zeepay and its CEO Andrew Takyi Appiah face a court order to pay over $11.6 million to a customer, and creditor Obsidian Achernar Limited has filed a winding-up petition over an unpaid debt. BoG officials visited Zeepay's headquarters on July 15.
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