DASH APP to resume service in Ghana soon

Techgh24 can confirm that Dash App from Spektra Technologies will soon resume operations in Ghana after several months of being suspended by the Bank of Ghana (BoG) for operating without a license.

In respond to an enquiry by Techgh24 via email, an official of the company said “I can tell you that we are in the final stages of restoring our services in Ghana and you will be notified once the service is fully restored.” 

Dash, a domestic and cross-border payments app, was suspended by BoG in a letter dated March 9, 2022, signed by Head of Fintech and Innovation at BoG, Kwame A. Oppong, and addressed to the CEO of Spektra Technologies.

In that letter, the central bank said it had come to their notice that through the Dash App, Spektra Technologies was offering services like Wallet Creation, Cross Border Payment, Holding of Float Balance as well as Bill and Utility Payment without the requisite approval.

The letter said “Payment Service Providers (PSPs) were required to obtain the appropriate regulatory approval from the BoG under Section 7 (1) of the Payment Systems and Services Act, 2019, (Act 987) prior to operating a payment service in Ghana.”

The central bank therefore directed the company to “cease offering the above payment services with immediate effect” until they obtained the appropriate approval from the BoG.

The BoG also reminded the company that “offering payment services in the country without a license is an offense under Section 9 (1) of Act 987.

Meanwhile, all other Fintech companies that were in partnership with Dash in Ghana were also ordered to pull the plugs on the company until further notice.

The suspension came shortly after Spektra Technologies had raised some US$32.8 million funding to build connected wallets in Africa.

Since the suspension, Dash users in Ghana have been left stranded and unable to access their funds on in the App.

Till date, several customers have been posting complaints of their challenges on Google Play and on various social media platforms.

One customer wrote to Techgh24 via WhatsApp said said “the App now allows you to put money into your wallet but accessing the funds for payments is a headache.”

But the immediately after the ban, Spektra Technologies initiated processes towards acquiring the needed regulatory approval from the BoG.

Even though the company did not categorically say whether the necessary regulatory approvals have been obtained, the recent response to Techgh24 indicates that the coast is clear and soon their customers in Ghana will start enjoying the services on the Dash App.

Dash first started operations in Ghana from 2019, connecting digital wallets across networks to facilitate payments both locally and across borders.