The Commercial Division of the High Court has granted summary judgment in favour of a businessman who entrusted substantial funds to Zeepay Ghana for onward transfers. The company and its CEO have been ordered to repay the amounts following failed transactions.
The plaintiff claimed he gave Zeepay US$11.6 million, €8,500, and GH₵1.4 million to transfer to designated beneficiaries. According to court filings, the transfers were never executed, prompting the legal action.
The court ruled that the defendants failed to demonstrate a sufficient defence to warrant a full trial. Summary judgment was therefore entered, compelling Zeepay and its CEO to refund the entrusted sums. The case highlights risks associated with large-scale money transfer services and has drawn attention to regulatory oversight in the fintech sector.
Details of the dispute have sparked public interest in how such platforms handle client funds. Zeepay Ghana, a prominent digital payments company, has not yet issued a public statement on the ruling. The judgment could have significant financial and reputational implications for the firm.
Legal experts note that summary judgments are issued when courts determine no triable issues exist. The defendants may still pursue an appeal or other legal avenues to challenge the decision.