Accra: The Bank of Ghana (BoG) has identified 20 mobile loan applications that are operating without the necessary licence or authorisation to provide digital credit services in Ghana. This action forms part of the central bank's ongoing efforts to clean up the digital credit space and protect consumers from entities offering these services without regulatory approval.
According to Ghana Web, the BoG issued a statement on September 8, 2026, highlighting that these loan applications are violating the Directive for Digital Credit Service Providers in Ghana established in September 2025. The unlicensed mobile loan applications named by the central bank include 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.
The central bank reported that these entities are significantly violating customer data privacy, consumer protection requirements, and established regulatory standards. Digital credit providers are mandated to obtain the necessary licence or authorisation before offering loan services to the public. The BoG has pledged to continue working with relevant state institutions to identify and investigate unlicensed digital lenders, taking appropriate enforcement actions against them.
These measures are aimed at safeguarding consumers and protecting the integrity, safety, and stability of Ghana's financial sector. The central bank strongly advises the public not to engage with unlicensed loan providers and urges consumers to ensure that any digital lending platform they use has the necessary regulatory approval.
Furthermore, Banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) have been cautioned against facilitating or processing transactions on behalf of unlicensed loan providers. The BoG encourages members of the public who become aware of the activities of unlicensed digital lenders to report them to the Head of the Fintech and Innovation Department, Bank of Ghana, The Bank Square, Ridge, Accra.