By Jones Anlimah
The Bank of Ghana has published an updated list of institutions licensed to operate as Electronic Money Issuers (EMIs) and Payment Service Providers (PSPs) under the Payment Systems and Services Act, 2019 (Act 987).
In a notice issued in Accra, the central bank stated that the announcement follows the release of its licensing application framework for payment service providers in July 2020 and forms part of regulatory measures to enhance transparency, consumer confidence, and oversight within the financial technology sector.
The approved entities include five dedicated electronic money issuers: Airtel Mobile Commerce (Ghana) Limited, GCB G-Money, Vodafone Mobile Financial Services Limited, Yup Ghana Limited, and Zeepay Ghana Limited.
In addition, more than twenty institutions have been cleared to operate under various PSP licensing categories including PSP Enhanced, PSP Medium, and PSP Standard. These comprise both local and international fintech firms offering digital payments, merchant services, switching, and platform-based financial solutions.
The Bank of Ghana encouraged the public, banks, specialized deposit-taking institutions, and electronic money issuers to take note of the updated list in engaging financial technology companies. The central bank further advised institutions seeking to participate in Ghana’s payment ecosystem to comply with licensing requirements under Act 987.
The notice added that inquiries may be directed to the Fintech and Innovation Office at the Bank of Ghana.The publication forms part of ongoing reforms aimed at deepening financial inclusion, promoting secure electronic payments, and strengthening Ghana’s digital financial services infrastructure.
