Zeepay Ghana Limited says it is engaging the Bank of Ghana (BoG) and other relevant stakeholders following the revocation of its Dedicated Electronic Money Issuer (DEMI) licence.

In a statement, the digital payment company said it was working with the regulator to ensure an orderly, transparent and responsible process following the decision.

“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 said.

Zeepay acknowledged concerns among its customers, employees, agents, merchants, partners and the general public, and assured them that it remained committed to supporting stakeholders throughout the process.

The company said further verified updates would be communicated through its official channels as engagements with the relevant parties continue.

The Bank of Ghana revoked Zeepay Ghana Limited’s DEMI licence with immediate effect on Tuesday, 14 July 2026.

The central bank said the decision was taken under Section 13 of the Payment Systems and Services Act, 2019 (Act 987), citing multiple regulatory breaches and persistent failure to comply with regulatory directives and the conditions of its licence.

According to the BoG, Zeepay issued electronic money without maintaining the required corresponding cash backing, resulting in a negative variance, and failed to rectify the associated risk exposure to customers and the payment system.

The central bank also said the company failed to comply with directives to inject sufficient funds to fully back electronic money balances of customers, agents and merchants, as well as directives to wind down its electronic money issuance business.

The BoG said Zeepay’s continued use of the DEMI licence posed a risk to the stability of Ghana’s payment system and advised affected wallet holders, agents and merchants to contact the central bank for support. 

Zeepay has not publicly disputed the revocation but says it will continue working with the regulator and stakeholders towards an orderly process.