BoG Suspends Eight Fintech Companies Over Remittance Breach

The Bank of Ghana (BoG) has taken action against eight fintech companies for violating new regulatory guidelines regarding inward remittances. These companies include Flutterwave, Cellulant Ghana, Tap Tap Send, Afriex, Halges Financial Technologies, Top Connect, Remit Choice, and Send App, with suspensions set to take effect on September 18, 2025. The BoG cites violations of Paragraphs 5 and 7.1–7.3 of the Updated Guidelines for Inward Remittance Services by Payment Service Providers, 2023. These involve licensing, operational modalities, and reporting requirements.