GN Savings vs Zeepay: Two Different Paths After BoG Regulatory Actions

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Two financial institutions affected by separate regulatory actions from the Bank of Ghana (BoG) are taking different approaches following the decisions.

While GN Savings and Loans remains confident that the Supreme Court will ultimately restore its operating licence, fintech firm Zeepay Ghana Limited says it is cooperating with the central bank after the revocation of its Dedicated Electronic Money Issuer (DEMI) licence.

The developments come as the Bank of Ghana continues efforts to strengthen regulatory compliance, protect consumers and safeguard stability within Ghana's financial sector.

GN Savings and Loans is currently awaiting the determination of an appeal before the Supreme Court, while Zeepay is engaging the regulator following the licence revocation.

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