Dedicated Electronic Money Issuer — Ghana

The Ghana category mapped to e-money issuance.

The ONLY Act 987 (Payment Systems and Services Act, 2019) category that may issue e-money and hold customer funds (in trust; capital GHS 20M).

Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-24 · unchanged since the previous check.

Licensed providers

5 entities

#	Provider	Status (as reported)	Source	Source date
1	Airtel Mobile Commerce (Ghana) Limited	licensed	Bank of Ghana	not dated
2	G-Money Financial Services LTD	licensed	Bank of Ghana	not dated
3	MobileMoney LTD	licensed	Bank of Ghana	not dated
4	Telecel Ghana Mobile Financial Services LTD	licensed	Bank of Ghana	not dated
5	ZeePay Ghana LTD	licensed	Bank of Ghana	not dated

Reading the tables

not dated: — the official source publishes no date of its own. We show our own last-checked date instead of inventing one for the regulator.

Licence requirements

What it takes to hold this licence, as stated in the cited official instruments. Capital and fees are shown in the currency the statute itself uses.

Requirement	As published	Source	Source date
Minimum capital	GHS 20,000,000. Act 987 sets no number (s.17 defers to BoG); the figure is in the BoG licensing schedule. Verbatim “… Capital (GHS Million) … Dedicated Electronic Money Issuer 20 … … A payment service provider shall ensure that while in operation, it maintains in the country a minimum paid-up capital … as determined by the Bank of Ghana.”	BoG FinTech & Innovation — Licensing Requirements for DEMIs, PSPs and PFTSPs (the official capital + fee schedule)	not dated
Local presence / incorporation	Yes — locally incorporated Ghanaian limited-liability company; board ≥3 with ≥2 (incl. CEO) resident in Ghana; customer-float holding bank in Ghana. Verbatim “the person is incorporated as a limited liability company under the Companies Act, 1963 (Act 179) … the person has a customer float account holding bank … a board of directors with a minimum of three members, at least two of whom, including the chief executive officer, shall be resident in the country.”	Payment Systems and Services Act, 2019 (Act 987) — enabling Act	2019-05-14
Timeline	Processing: grant/reject within 90 days of a complete application. Validity/tenure: 5 years (renewable). Verbatim “The Bank of Ghana shall, within ninety days from the date of receipt of a complete application, grant or reject the application. … A licence … is valid for a period of five years subject to renewal … … Tenure … 5 Years”	Payment Systems and Services Act, 2019 (Act 987) — enabling Act	2019-05-14
Local ownership	≥30% Ghanaian equity participation. Verbatim “the person has at least a thirty percent equity participation of a Ghanaian.”	Payment Systems and Services Act, 2019 (Act 987) — enabling Act	2019-05-14
Fees	Processing GHS 25,000 · Licence GHS 100,000 · Renewal GHS 10,000 (table in "GHS' 000"). Verbatim “Fees (GHS' 000) … Processing 25 · Licence 100 · Renewal 10 … A body corporate licensed or authorised under this Act shall pay a processing fee, licence fee and annual renewal fee. … GHS' 000”	BoG FinTech & Innovation — Licensing Requirements for DEMIs, PSPs and PFTSPs (the official capital + fee schedule)	not dated
Ongoing obligations	100% float safeguarding: keep 100% of e-money float in liquid assets; e-money held in trust, un-encumbered on insolvency. AML/CFT policies + controls. Records ≥6 years; periodic returns. Renewal ≤6 months before expiry with fee + Tax Clearance Certificate. Scope: e-money and related business only. Verbatim “A dedicated electronic money issuer shall keep one hundred per cent of the electronic money float in liquid assets. … electronic money owed to the customers are held in trust and shall not be encumbered in case of insolvency or liquidation … keep records of every electronic money transaction … for a minimum period of six years.”	Payment Systems and Services Act, 2019 (Act 987) — enabling Act	2019-05-14

Requirements as published in the cited instruments — not legal or compliance advice. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.

The equivalent in other markets

Categories mapped to the same normalized activity — fintech:EMONEY_ISSUE:

Cross-border rules for Ghana →