{"id":61248,"date":"2023-12-03T07:04:40","date_gmt":"2023-12-03T07:04:40","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=61248"},"modified":"2023-12-03T04:54:51","modified_gmt":"2023-12-03T04:54:51","slug":"lemfi-ends-its-operations-in-ghana-over-bog-notice","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice","title":{"rendered":"Lemfi ends it\u2019s operations in Ghana over BoG notice"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Ghana. <\/strong><\/span><b>LemFi has been forced to suspend its operations in Ghana following a notice from Bank of Ghana (BoG) that it has no operational license in the country.<\/b><\/p>\n<p>The remittance startup halted its operations one week after the Central Bank identified LemFi as one of eight fintechs operating without the necessary regulatory approvals.<\/p>\n<p>In Ghana, like many other countries, companies can\u2019t trade foreign currency without a licence. If caught doing so, they stand to face penalties of up to seven hundred penalty units (GHS8,400), imprisonment for a maximum of eighteen months, or both.<\/p>\n<p>In this case, LemFi was barred from operating in Ghana along with other operators like Wise and PayPal. The Central Bank of Ghana also warned all financial institutions in the country to stop dealing with these fintechs.<\/p>\n<p>Following LemFi\u2019s suspension, users will no longer be able to send money to banks or mobile money wallets in the country.<\/p>\n<p>A source familiar with the company\u2019s operations said that it plans to work with Ghanaian regulators to obtain the necessary licences.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/ghana\">Ghana<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Ghana. LemFi has been forced to suspend its operations in Ghana following a notice from Bank of Ghana (BoG) that it has no operational license in the country. The remittance startup halted its operations one week after the Central Bank identified LemFi as one of eight fintechs operating without the necessary regulatory approvals. [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":61247,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[5092,5096,429],"class_list":["post-61248","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lemfi ends it\u2019s operations in Ghana over BoG notice - Ghana<\/title>\n<meta name=\"description\" content=\"LemFi has been forced to suspend its operations in Ghana following a notice from Bank of Ghana (BoG) that it has no o ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lemfi ends it\u2019s operations in Ghana over BoG notice\" \/>\n<meta property=\"og:description\" content=\"LemFi has been forced to suspend its operations in Ghana following a notice from Bank of Ghana (BoG) that it has no o ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-03T07:04:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/12\/sm_1701566560.001615.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1728\" \/>\n\t<meta property=\"og:image:height\" content=\"1152\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Lemfi ends it\u2019s operations in Ghana over BoG notice\",\"datePublished\":\"2023-12-03T07:04:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice\"},\"wordCount\":196,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/12\/sm_1701566560.001615.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/lemfi-ends-its-operations-in-ghana-over-bog-notice\",\"name\":\"Lemfi ends it\u2019s operations in Ghana over BoG notice - 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