Zeepay Ghana Limited and its Managing Director, Andrew Takyi-Appiah have jointly sued MTN Ghana and its fintech wing, Mobile Money Fintech Limited (MMFL) for GHS15 million and other general damages over alleged breach of contract, regarding the use of the MD's name in registering a mobile money wallet using the KYC documents of the company.
In the lawsuit, filed at an Accra High Court on Friday, October 23, 2026, Andrew Takyi Appiah (Second Plaintiff) said that the wrongful use of his name in registering the said corporate wallet (OVA Wallet) number 0530585752 in March 2023, has caused him pain, distress and grave reputational damage, as he has till date, been attached to a lawsuit involving the company, specifically because of that "reckless" and "unlawful" act by MTN Ghana and MMFL in attaching his name to the company's corporate wallet.
It would to recalled that, as a result of keeping the MD's name on the said OVA Wallet, he was named in a recent lawsuit, in which he was wrongly accused of using his personal mobile money wallet to transact company business. That false accusation was widely reported in sections of the media, in which the MD was accused of diverting huge funds from that wallet for personal expenses on luxury homes, cars and other stuff.
Meanwhile, according to First Plaintiff (Zeepay), way back on November 21, 2023 (more than two years before that damaging lawsuit) it wrote to the defendants (MTN Ghana and MMFL) and asked them to correct the anomaly, and gave the defendants repeated reminders until August 2026. But till date, the anomaly has still not been corrected.
Find a copy of the November 21, 2023 letter from Zeepay to MTN Ghana below:
Zeepay wrote to MTN Ghana on November 21, 2023 to remove the name of Andrew Takyi Appiah from the company's corporate wallet
In fact, prior to filing this lawsuit against MTN Ghana and MMFL, Zeepay wrote to them in August this year asking about the request for change of name, and the Defendants wrote back saying that the attachment of the MD’s name was purely for "View Only" purposes and that did not give him access to transact with the wallet or make any withdrawals on the wallet.
But MTN Ghana/MMFL have held on to this critical information, while Andrew Takyi Appiah was being falsely accused of using his personal MTN wallet to transact company business, and making withdrawals on that wallet for personal use, knowing very well that Andrew Takyi Appiah has no personal MTN MoMo Wallet, and he had no right to make withdrawals on the company's corporate wallet.
In the lawsuit therefore, the Plaintiffs described the defendants as "oppressive" and "arrogant" for blatantly refusing to correct their "reckless" and "unlawful" compliance breach, which has led to the needless reputational damage on the character of the Second Plaintiff.
They are therefore asking the court to order MTN and MMFL to remove 2nd Plaintiff's (Andrew Takyi Appiah) name as the owner of 1st Plaintiff's (Zeepay) Corporate Wallet (OVA Wallet) number 0530585752, and in compliance with 1st Plaintiff’s November 21, 2023 instructions.
They are also praying the court to award General Damages against the Defendants for breach of contract in favour of First Plaintiff, plus GHS10 million for pain, distress and reputational harm, as well as another GHS5 million in exemplary damages in favour of 2nd Plaintiff (Andrew Takyi Appiah).
The Plaintiffs are also asking the courts to award them legal cost including legal fees, plus any other orders that the court deems fit, just and equitable.
The details of the case are that in March 2023, Zeepay registered a corporate mobile money wallet (OVA) number 0530585752 on MTN for the furtherance of its fintech operation in Ghana. Eight months on, in November 2023, the company said it realized that the wallet has been registered in the name of its MD, Andrew Takyi Appiah. So, any client transacting with Zeepay via that wallet, sees the name of the MD, instead of that of Zeepay.
Meanwhile, the KYC documents used in registering the wallet, were those of the company and not the MD, which even raises compliance questions, whether the defendants complied with regulations and its own compliance policies in using a company's KYC to register a wallet in an individual's name.
The Plaintiffs said they then wrote to the defendants on November 21, 2023 and specifically instructed them to remove the name of the MD, Andrew Takyi Appiah, from the wallet and replace it with the name of the company, Zeepay Ghana Limited.
According to the first Plaintiff, even though they provided the defendants with all the necessary documents to enable them to comply and act on the instructions, the defendants have refused and or neglected to comply with the Plaintiff's instructions to effect the name change.
The Plaintiffs said that the failure of the defendants to act on the instructions of the customer constitute a breach of contract, which is reckless and unlawful on the part of the defendants, adding that, the defendants' negligence has caused particularly the Second Plaintiff enormous pain, distress and grave reputational damage in the eyes of the public, hence this lawsuit.
As at the time of filing this story, the Defendants have duly been served.
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