Bank of Ghana licences first Fintech

In furtherance of efforts to deepen financial inclusion and in accordance with the Payment Systems and Services Act, 2019 (Act 987), the Bank of Ghana has issued its first dedicated Electronic Money Issuer Licence, to a local Financial Technology (Fintech) company, Zeepay Ghana Limited.

A statement issued by Sandra Thompson, the secretary to the BoG, said the licence authorizes Zeepay Ghana Limited, to operate as a Dedicated Electronic Money Issuer, providing services including Cash In; Cash Out; P2P transfers (peer to peer), bill payments, airtime top-up, and International Money Transfer (IMT).

“The Bank of Ghana wishes to reiterate its commitment to providing an enabling environment for Fintechs, industry players and other stakeholders, to operate in the payment services space in Ghana,” the statement said.