The Bank of Ghana has identified 20 mobile loan applications operating without the requisite licence or authorisation to provide digital credit services in Ghana. This move is part of the central bank's efforts to sanitise the digital credit market and protect consumers from unlicensed lending activities. The identified loan applications are operating in contravention of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025.
The Bank of Ghana's public notice stated that the operations of the identified entities constitute significant violations of customer data privacy, consumer protection requirements, and established regulatory standards. The central bank advised the public not to engage with unlicensed loan providers. It also cautioned banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) against facilitating or processing transactions on behalf of such providers.
The 20 unlicensed mobile loan apps identified by the Bank of Ghana are: Agile Loan, AmanaPay, CashWay, Foutou Credit, HastyCredit, InsCash, KudiNow, LendAura, Lever Credit, LoanGlide, NovaCedi, Palm Loan, PocketLoan, Rite Credit, SikaCare, SikaNow, Susu Loan, Taploan, Up Temivo Cedi, and Zatuloan.
The Bank of Ghana warned that it will continue to work with relevant state institutions to identify and investigate unlicensed digital credit providers and take appropriate enforcement action. The objective is to safeguard consumers while protecting the integrity, safety, and stability of Ghana's financial sector.
According to the Bank of Ghana, members of the public who become aware of the activities of unlicensed loan providers are encouraged to report them to the central bank. This measure aims to prevent unlicensed lending activities and protect consumers from potential risks.
The Bank of Ghana's directive for digital credit service providers was issued in September 2025, highlighting the central bank's efforts to regulate the digital credit market. The directive aims to ensure that digital credit service providers operate in a manner that is safe, stable, and secure.
The Bank of Ghana's action is expected to help maintain confidence in Ghana's financial sector. By taking enforcement action against unlicensed loan providers, the central bank aims to promote a stable and secure financial environment for consumers and financial institutions alike.
Key points
- The Bank of Ghana identified 20 mobile loan applications operating without a licence.
- The central bank warned the public against engaging with unlicensed loan providers.
- The Bank of Ghana will continue to work with state institutions to investigate unlicensed digital credit providers.
