The Bank of Ghana (BoG) has issued a fresh warning to the general public and all licensed financial institutions against engaging with 16 unlicensed digital loan applications operating in the country without regulatory approval.
In a public notice dated August 3, 2026 (Notice No. BG/GOV/SEC/2026/25), the central bank said it has observed the continued operations of several Digital Credit Service Providers (DCSPs) offering loans through mobile applications and other digital platforms without obtaining the required licence or authorisation.
According to the Bank, the activities of these entities violate the Directive for Digital Credit Service Providers in Ghana, issued in September 2025 under Notice No. BG/GOV/SEC/2025/30, as well as other applicable financial sector laws.
The Bank of Ghana identified the following mobile loan applications as operating illegally:
– Adamfo Loan
– Agyapacredit
– Amanfi Loan
– Arco Cash
– Aya Lend
– Bucks Now
– CediGo
– CGrab
– DumboCash
– FCash
– Gh Loans
– Gh Loans Pro
– Hasty Credit
– Newgry Money Tree
– Omanpesa
– PoPoCedi
– Ready Money
– Sika Tap
– Sikapa Loan
– Zigwe Loan
The central bank stressed that these platforms are not licensed or authorised to provide digital lending services in the country.
The Bank of Ghana warned that the continued operation of these unlicensed loan providers poses serious risks to consumers.
According to the notice, the activities of the entities constitute significant violations relating to customer data privacy, consumer protection and established regulatory standards.
The Bank cautioned that users of such applications may expose themselves to financial losses, misuse of personal information and other risks associated with dealing with unregulated financial service providers.
The Bank also directed all banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) not to facilitate or process transactions on behalf of any unlicensed digital loan provider.
It warned that regulated financial institutions must ensure they do not provide services that support the operations of illegal digital lending platforms.
The central bank said it will continue working closely with relevant state institutions to identify, investigate and take appropriate enforcement action against unlicensed digital credit providers.
According to the Bank, the collaboration is aimed at protecting consumers while safeguarding the integrity, stability and credibility of Ghana’s financial sector.
The Bank of Ghana encouraged members of the public to report the activities of any unlicensed digital loan provider to its Fintech and Innovation Department.
Reports can be made through the Bank’s official telephone lines or via email at fintech@bog.gov.gh and digitalcredit@bog.gov.gh.
By 1960news.com
