The Bank of Ghana (BoG) has stepped up efforts to curb illegal digital lending by cautioning the public against dealing with 20 unlicensed digital credit service providers operating in the country.
The central bank has also directed banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) not to facilitate or process transactions on behalf of these unauthorised lenders.
In a public notice issued on Monday, August 3, 2026, the BoG said the companies continue to offer loans through mobile applications and other digital platforms without the required licence, contrary to the Directive for Digital Credit Service Providers in Ghana, which came into effect in September 2025.
According to the Bank, the continued operations of these platforms expose consumers to significant risks, including breaches of data privacy, weak consumer protection and non-compliance with regulatory requirements.
The affected digital loan applications are:
- 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 general public is therefore strongly advised not to engage with unlicensed loan 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 statement said.
The Bank of Ghana said it will continue collaborating with relevant state institutions to identify, investigate and take enforcement action against illegal digital lenders as part of efforts to protect consumers and maintain confidence in Ghana’s financial system.
The central bank also encouraged members of the public to report the activities of unlicensed digital loan providers to the Bank to support ongoing efforts to promote a safer, more transparent and well-regulated digital financial ecosystem.
Source: citinews
