The High Court has commenced the enforcement of a US$11.6 million judgment against Zeepay founder and Chief Executive Officer, Andrew Takyi-Appiah, with his residence and several luxury vehicles reportedly attached as part of efforts to recover the debt.
The enforcement exercise was carried out on Monday, July 6, 2026, when armed police officers executed a court order at Takyi-Appiah’s residence located at 11 Kofi Annan Street, opposite the Kwarleyz Hotel in Airport, Accra.
Videos circulating on social media showed security personnel at the property during the operation, while reports indicate that a number of luxury vehicles belonging to the fintech executive have also been seized.
The action follows a judgment delivered on April 16, 2026, by the Accra High Court (Commercial Division), presided over by Justice Afi Agbanu Kudomor, which ordered Takyi-Appiah and Zeepay to repay more than GH¢180 million to a client identified as Yusuf.
According to court documents, the judgment comprises over US$11.5 million, €8,500, GH¢1.4 million, accrued interest and GH¢500,000 in legal costs.
The documents state that Yusuf had transferred substantial sums to Zeepay for onward remittance to designated beneficiaries. However, the company allegedly failed to complete the transactions and later undertook to refund the money.
The court heard that only US$340,000 of the approximately US$11.9 million received was refunded, leaving the bulk of the funds outstanding.
Court records also indicate that some of the monies were allegedly received through Takyi-Appiah’s personal mobile money account, raising concerns over the separation of corporate and personal finances.
During the proceedings, Takyi-Appiah reportedly questioned the legitimacy of the plaintiff’s funds, alleging they were derived from fraudulent activities. Justice Kudomor dismissed the argument and ordered the defendants to repay the monies together with interest.
Reports further suggest that Zeepay’s headquarters at Cantonments, opposite the Ghana International School, has also been attached as creditors intensify efforts to enforce the court’s ruling.
The company’s international operations have also come under pressure. Zeepay’s Barbados subsidiary has reportedly been liquidated after the Central Bank of Barbados suspended its licence over concerns relating to financial stability, corporate governance and regulatory compliance. Its United Kingdom operations are also said to be facing multiple arbitration proceedings.
Earlier this year, the company’s Chief Financial Officer, Nana Ntim Asamoah, resigned, citing alleged weaknesses in treasury operations, governance concerns and audit-related issues. His resignation letter was reportedly copied to the Economic and Organised Crime Office (EOCO) and the Bank of Ghana.
Although the Bank of Ghana has yet to issue a detailed public statement on the latest developments, reports indicate that the regulator has been monitoring the situation closely.
Once regarded as one of Ghana’s leading fintech success stories, Zeepay earned recognition for processing billions of dollars in remittances through partnerships with global payment firms, including MoneyGram and Remitly.
However, the company now finds itself at the centre of mounting legal disputes and regulatory scrutiny, with the latest asset seizure marking a significant development in efforts by creditors to recover the outstanding judgment debt.