Bank of Ghana Sets GH¢2 Million Minimum Capital for Digital Credit Providers to Boost Stability and Consumer Protection

The Bank of Ghana has rolled out new licensing requirements for Digital Credit Service Providers, setting a minimum capital threshold of GH¢2 million for firms seeking approval to operate. The directive, published on September 23, 2025, signals the regulator’s determination to strengthen oversight of Ghana’s rapidly growing digital lending industry, which provides microloans through mobile and online platforms without traditional banking infrastructure.

Under the new framework, applications for licences will be processed through the Online Regulatory Analytics Surveillance System (ORASS) starting November 3, 2025. Prospective providers must show proof of the minimum capital in their corporate accounts and submit a detailed funding plan. A gearing ratio of 8 and a transaction cap of GH¢10,000 per customer have also been introduced to curb risk exposure in the sector.

To obtain a licence, applicants must pay a GH¢10,000 processing fee, a GH¢20,000 licensing fee, and a GH¢10,000 renewal fee every two years. The directive also lays out strict standards on governance, technology, and risk management. These include consumer protection measures, ICT security systems, and compliance with anti-money laundering and fraud prevention regulations, aligning with the Bank’s goal of promoting financial stability and consumer confidence.

In addition to financial capacity, at least 30 per cent of equity must be held by a Ghanaian national, and no single shareholder may hold more than 90 per cent ownership. Directors and key managers must meet the Bank’s “fit and proper” requirements, which include proof of integrity, professional competence, and comprehensive five-year business and financial projections.

According to the regulator, the licensing regime is designed to ensure only well-capitalised and professionally run firms participate in Ghana’s digital credit market. The move is expected to improve accountability and consumer trust at a time when digital lending is expanding but attracting more complaints. The Bank of Ghana said it will continue engaging stakeholders to balance innovation, financial inclusion, and consumer protection in the country’s fast-evolving financial services landscape.

source: graphic