The Bank of Ghana (BoG) has issued a stern warning to the public and financial institutions to desist from engaging in any transactions with YellowPay and HanyPay, citing concerns over unlicensed operations.
In an official notice dated June 10, the Central Bank stated that YellowPay—a digital payment service offered by Yellow Card Financial Inc.—is not licensed to operate in Ghana. Despite this, the platform actively promotes services such as cryptocurrency trading, cross-border remittances, and stablecoin transactions.
The BoG further cautioned against YellowPay’s partnership with HanyPay, which is affiliated with the so-called Africa Diaspora Central Bank (ADCB). According to the Bank, HanyPay is not authorized to operate in Ghana, and the ADCB is not recognized as a legitimate central bank.
“All stakeholders are advised to refrain from dealing with YellowPay and HanyPay, as their operations are not regulated by the Bank of Ghana and pose significant financial and legal risks,” the statement warned.
The Central Bank reaffirmed its commitment to safeguarding the integrity of Ghana’s financial system and urged the public to verify the licensing status of any financial service provider before engaging in transactions.
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