The Bank of Ghana has issued a notice warning the public against engaging with twenty mobile loan applications operating without the requisite licence or authorisation. The notice, signed by Secretary Ms Aimee Vyda Quashie, was issued on October 6, 2026. The central bank named the unlicensed digital credit service providers, including Agile Loan, AmanaPay, and CashWay, among others.
This warning follows an earlier caution issued by the Bank of Ghana on unlicensed digital credit service providers. The central bank continues to take steps to sanitise the digital credit space and protect the public from entities providing digital credit services without a licence. The operations of these entities pose significant risks to customer data privacy and consumer protection.
The Bank of Ghana noted that the activities of these unlicensed loan providers contravene the Directive for Digital Credit Service Providers in Ghana issued in September 2025. The central bank emphasised that it would collaborate with relevant state institutions to identify, investigate, and take enforcement action against such entities. This move aims to safeguard consumers and uphold the integrity of the financial sector.
The general public has been strongly advised not to engage with unlicensed loan providers. Banks and specialised deposit-taking institutions, as well as payment service providers, have also been cautioned against facilitating transactions on behalf of unlicensed loan providers. The Bank of Ghana urged members of the public to report any unlicensed loan activities to the Head of the Fintech and Innovation Department.
Reports of unlicensed loan activities can be made by telephone on +233 30 273 9650 or by email to the Bank of Ghana. The central bank is committed to protecting consumers and maintaining the stability of the financial sector. The public is encouraged to exercise caution when dealing with digital credit service providers.
The Bank of Ghana's directive for digital credit service providers aims to regulate the digital credit space and ensure that providers operate with the necessary licences and authorisations. The central bank's actions demonstrate its commitment to enforcing regulatory standards and protecting consumers.
The twenty unlicensed loan apps named by the Bank of Ghana include Foutou Credit, HastyCredit, InsCash, and KudiNow, among others. The central bank's notice serves as a reminder to the public of the risks associated with engaging with unlicensed loan providers.
Key points
- The Bank of Ghana has named twenty mobile loan applications operating without licences.
- The central bank has warned the public against engaging with unlicensed loan providers.
- Reports of unlicensed loan activities can be made to the Bank of Ghana by telephone or email.
