The Commercial Division of the Accra High Court has quashed its earlier orders authorising the Office of the Registrar of Companies (ORC) to wind up and liquidate fintech firm Zeepay Ghana Limited, with the company’s lawyer describing the court’s decision as a complete reversal of the earlier proceedings.
The ruling, delivered by Justice Samuel Faraday Johnson on Wednesday, July 30, 2026, held that the court lacked jurisdiction to make the liquidation orders because the ORC commenced the action through an Original Motion instead of a Petition, the procedure required under Ghana’s company laws.
Speaking to the media after the ruling, counsel for Zeepay, Kwesi Fynn of BLG, said the company immediately challenged the orders after learning that they had been obtained without its knowledge.
“This afternoon, the court agreed with Zeepay that the orders made were illegal. The action commenced by the ORC was unlawful and, therefore, quashed the orders winding up Zeepay and the entire action,” he said.
According to him, the decision means Zeepay continues to exist as a corporate entity.
“As we speak, Zeepay is an existing company. Zeepay is no longer a wound-up company, so the action that took place on July 17, 2026, no longer exists. The court agreed with Zeepay that the action taken by the ORC was unlawful and illegal, and the orders have been quashed,” he stated.
Mr Fynn explained that the ORC’s application was triggered by the Bank of Ghana’s decision to revoke Zeepay’s Dedicated Electronic Money Issuer (DEMI) licence.
He said the Registrar took the position that the revocation of the licence meant the company could no longer exist and subsequently obtained ex parte orders to wind up the company without notifying either Zeepay or the Bank of Ghana.
“According to the ORC, they received notice of the revocation of Zeepay’s operating licence and proceeded to court without notice to Zeepay or the Bank of Ghana to obtain orders winding up the company. That is exactly what has been reversed today,” he said.
The lawyer stressed that the court’s ruling distinguishes the revocation of Zeepay’s operational licence from the company’s legal existence.
“Today’s ruling means the revocation of the licence is only an operational issue. The company continues to exist and is engaging the regulator over the licence revocation. The ORC’s intervention has now been dealt with by the court,” he explained.
He further assured customers and business partners that the company remains operational despite the regulatory challenges.
“Everything that Zeepay is doing to assure its customers and partners is fully back and underway,” he said.
Mr Fynn also disclosed that there are other civil cases involving claims against the company pending before the courts, adding that Zeepay has been actively participating in those proceedings.
“There are a number of cases pending before the courts involving claims against the company. Zeepay has been fully represented in those matters and is complying with all legal processes. There is no default on the part of the company,” he said.
On July 17, 2026, the Commercial Division of the Accra High Court, acting on an ex parte application by the Office of the Registrar of Companies, authorised the winding up and liquidation of Zeepay Ghana Limited following the revocation of the company’s Dedicated Electronic Money Issuer licence by the Bank of Ghana over alleged regulatory breaches.
The orders empowered the ORC to assume control of the company’s assets, including its bank accounts, digital infrastructure and corporate records. However, following an application by Zeepay challenging the legality of the proceedings, the High Court on July 30, 2026, set aside the liquidation orders, ruling that the winding-up proceedings had been improperly commenced and were therefore unlawful.