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The Bank of Ghana (BoG) has cautioned the public against using 20 digital loan applications operating without the required regulatory approval, reiterating its commitment to strengthening oversight of the country’s digital lending ecosystem and protecting consumers from unauthorised financial service providers.
In a statement issued on August 3, 2026, the central bank said it had identified several entities offering digital lending services through online platforms without obtaining the necessary licence or authorisation.
According to the BoG, the activities of these operators violate the Directive for Digital Credit Service Providers in Ghana (September 2025) and other applicable laws governing digital lending and financial services.
“The Bank of Ghana has observed the continued operation of entities providing digital loans to the Ghanaian public through digital channels without the requisite licence or authorisation from the Bank of Ghana,” the regulator stated.
BoG publishes list of unauthorised loan providers
The central bank identified the affected mobile loan applications as:
- Admfo Loan
- AgyapaCredit
- Atuani Loan
- Arco Cash
- Aya Lend
- Bucks Now
- CediGo
- Criab
- DumboCash
- FCash
- Gh Loans
- Gh Loans Pro
- Hasty Credit
- Newgry Money Tree
- Omanpesa
- PoPoCedi
- Ready Money
- Sika Tap
- Sikapa Loan
- Zigwe Loan
According to the BoG, none of the listed applications has received the regulatory approval required to provide digital credit services in Ghana.
The regulator warned that engaging with unlicensed lenders exposes consumers to significant risks and undermines established regulatory compliance standards within the financial services sector.
Concerns over data privacy and consumer protection
The Bank of Ghana expressed concern that the activities of the unauthorised digital lenders present serious threats to consumer protection, data privacy, and the integrity of Ghana’s financial ecosystem.
“The operations of these entities constitute significant violations of customer data privacy, consumer protection and established regulatory standards,” the BoG stated.
The central bank said it would continue collaborating with relevant government agencies to identify, investigate and take appropriate regulatory enforcement actions against illegal digital lending operators.
The initiative forms part of broader efforts to strengthen compliance management, improve regulatory monitoring, and ensure that digital financial service providers operate within Ghana’s approved regulatory framework.
Financial institutions urged to avoid facilitating illegal lenders
The BoG also advised members of the public to refrain from conducting business with the listed loan applications.
“The general public is therefore strongly advised not to engage with unlicensed loan providers,” the statement emphasised.
In addition, the regulator directed licensed Payment Service Providers (PSPs) and Specialised Deposit-Taking Institutions (SDIs) not to facilitate or process transactions on behalf of unlicensed digital lenders.
The central bank warned that licensed financial institutions are expected to comply fully with existing regulatory requirements, maintain effective compliance management systems, and support efforts aimed at strengthening the integrity of Ghana’s financial sector.
To further enhance regulatory oversight, the BoG encouraged members of the public to report suspected unlicensed digital lending activities to its Fintech and Innovation Department for investigation and appropriate action.
The latest advisory underscores the growing importance of consumer protection, data privacy, regulatory compliance, and effective RegTech solutions in safeguarding users as digital lending continues to expand across Africa’s financial services landscape.
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