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Zeepay, an innovative fintech company and a prominent player in Africa’s mobile money sector, has received regulatory approval from the Bank of Ghana for its outbound money transfer service.
This approval marks a significant milestone for Zeepay as it becomes the first of its kind to receive such recognition from the Bank of Ghana or any other regulatory body within the regulatory sandbox framework.
Zeepay’s outbound money transfer service facilitates cross-border payments from Ghana to key international destinations, including the United Kingdom, United States, Ivory Coast, and Nigeria.
Andrew Takyi-Appiah, the Managing Director of Zeepay, expressed his excitement about the approval, stating, “This endorsement underscores Ghana’s commitment to fostering local businesses and harnessing the innovative potential of its people. It also reflects a strong endorsement of H.E Dr. M. Bawumia’s digitization initiatives.”
Takyi-Appiah further highlighted the positive impact of this approval on immigrants in Ghana, particularly Nigerians and Ivorians. He emphasized, “For the first time, they can send up to ten thousand US dollars annually back home, directly to mobile money wallets or bank accounts.”
Dede Quarshie, GM Commercial at Zeepay, also commented on the milestone, stating, “This regulatory approval for our outbound product represents a significant achievement for Zeepay. Our outbound service will facilitate peer-to-peer remittances across vital corridors such as Ivory Coast, Nigeria, the United States, and the United Kingdom.”
Quarshie emphasized that this initiative not only enhances transactional convenience for immigrant communities but also transforms regions previously limited to receiving remittances into active sending locations. He concluded by affirming Zeepay’s commitment to providing comprehensive and improved services to its clients.
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