The Bank of Ghana (BoG) has identified 20 mobile loan applications operating without the requisite licence or authorisation and warned the public against engaging with the platforms.
The central bank said the operators were providing digital credit services in violation of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025.
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In a notice issued on September 8, 2026, the BoG said the latest action formed part of its continuing efforts to sanitise Ghana’s digital credit space and protect consumers from unlicensed operators.
The identified loan applications are Cascredit, Cash Future, Cash Cedi, Cashpal, Cashpal Pro, CreditGo, Funds Credit, Glow Credit, Moni Wave, MoniLend, Nova Cedi, Onua Loan, Quick Cedi, Sika Boost, Sika Credit, Sompa Loan, Sune Credit, Swift Lend, Target Credit and Zoom Advance.
According to the BoG, the operations of the identified entities raise concerns relating to consumer protection and the handling of customers’ personal information.
“The Bank wishes to inform the public that the following mobile loan applications are operating without the requisite licence or authorisation from the Bank of Ghana,” the notice stated.
The central bank said the activities of unlicensed digital credit providers constitute “significant violations of customer data privacy, consumer protection, and established regulatory standards.”
BoG intensifies action against illegal digital lenders
The latest warning follows an earlier notice issued by the BoG on unlicensed Digital Credit Service Providers (DCSPs), as the regulator steps up efforts to bring order to the rapidly expanding digital lending sector.
The Bank said it would continue working with relevant state institutions to identify, investigate and take enforcement action against unlicensed digital credit providers.
“The Bank of Ghana will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities in order to safeguard consumers and uphold the integrity, safety, and stability of the financial sector,” it said.
The BoG therefore strongly advised members of the public **not to engage with unlicensed loan providers**, warning that doing so could expose consumers to risks relating to data privacy, unfair lending practices and consumer protection.
Banks, PSPs cautioned
The regulator also extended its warning to licensed financial institutions and payment service providers.
Banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) have been cautioned against facilitating or processing transactions on behalf of unlicensed digital credit providers.
“Banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) are also cautioned against facilitating or processing transactions on behalf of unlicensed loan providers,” the BoG stated.
The Bank urged members of the public who become aware of the activities of unlicensed loan providers to report them to its Fintech and Innovation Department.
Reports can be made to the Head of the Fintech and Innovation Department, Bank of Ghana, The Bank Square, Ridge, Accra, or through the telephone number +233 30 273 9650.
