Kofi Ahovi

  By Samuel Dowuona  As legal proceedings involving Zeepay Ghana Limited continue, documents filed in court and information emerging from related proceedings have raised questions about some of the allegations surrounding the company, its founder and Chief Executive Officer, Andrew Takyi-Appiah. The matters remain before the courts and other regulatory bodies, and several of the issues in dispute have yet to be conclusively determined.   Ahead of the final determination of the issues before the courts and other regulatory bodies, the financial industry regulator, Bank of Ghana has suspended Zeepay’s DEMI (dedicated electronic money issuer) license citing “multiple regulatory breaches.” But there are still several unanswered questions. The Mobile Money Wallet at the Centre of Allegations One of the allegations that has received significant public attention is the claim that customer funds were processed through what has been described as the CEO’s personal MTN Mobile Money...

  The Bank of Ghana (BoG) has revoked the Dedicated Electronic Money Issuer (DEMI) Licence of Zeepay Ghana Ltd with immediate effect, citing multiple regulatory breaches and the company's persistent failure to comply with supervisory directives. The decision, announced in a public notice dated July 14, 2026, was taken under Section 13 of the Payment Systems and Services Act, 2019 (Act 987). According to the central bank, Zeepay repeatedly failed to comply with the terms and conditions of its licence, with its continued operations posing a risk to customers and the stability of Ghana's payment ecosystem. The BoG said investigations revealed that the company issued electronic money without maintaining the required cash backing, resulting in a negative variance that exposed customers and the payment system to financial risk. The regulator further disclosed that Zeepay failed to comply with directives requiring it to inject sufficient funds to fully back customers', agents'...

  Ghana’s leading fintech and non-telco mobile money firm, Zeepay Limited emerged as number one on this year’s Ghana Club 100 list. This is the first time Zeepay has entered Ghana Club 100 and it entered at the top, toppling telecom giant MTN Ghana, which held the number 1 spot in 2021, but has dropped to number 5 this year. The list was announced at the 2022 Ghana Club 100 Awards held on Friday, 15th October at the plush Kempinski Gold Coast Hotel in Accra. The event was the 19th edition anchored by the Ghana Investment Promotion Centre ( GIPC ) under the theme “ Ghana’s Private Sector, a Catalyst for Post-Pandemic Economic Transformation “. The Senior Presidential Advisor, Yaw Osafo-Marfo, who was the special guest of honour presented the award to ZeePay with support from  Yoofi Grant , the CEO of GIPC Ghana. Ghana Club 100 Award is about corporate excellence therefore establishments making it into the list are to serve as role models for the private sector and provide ...