The Bank of Ghana (BoG) has flagged 20 mobile loan applications operating without the required licence or authorisation to provide digital credit services in the country. The move is part of the central bank’s ongoing efforts to clamp down on unlicensed digital lenders and strengthen consumer protection in Ghana’s growing digital finance sector.
In a notice issued on Tuesday, the BoG listed the affected loan apps as 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 central bank, the operators are acting in violation of its directive governing digital credit service providers in Ghana, which was issued in September 2025. The regulator also raised concerns about data privacy, consumer protection and compliance with established financial regulatory standards, warning that the activities of unlicensed lenders could expose borrowers to significant risks.
The BoG said it would continue working with relevant state institutions to identify, investigate and take enforcement action against digital credit providers operating without the necessary approval. It also cautioned banks, specialized deposit-taking institutions and payment service providers against facilitating or processing transactions for unlicensed loan operators.
The central bank urged members of the public to avoid dealing with the 20 flagged loan apps and report any other suspected unlicensed digital lenders to its Fintech and Innovation Department. The latest action, it said, is aimed at protecting consumers while preserving the integrity, safety and stability of Ghana’s financial sector.
source: the cable
