The Bank of Ghana (BoG) has intensified its crackdown on illegal digital lending platforms, warning Ghanaians to stay away from 20 unlicensed loan apps currently offering mobile loans and online credit services without regulatory approval.
In a public notice issued on Monday, August 3, 2026, the central bank instructed all regulated financial institutions, including banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs), not to facilitate transactions or provide services to these unauthorized digital lenders.
According to the Bank of Ghana, the affected companies continue to provide instant loans, mobile lending, and other digital credit services through mobile applications and online platforms despite lacking the mandatory operating licence required under Ghana’s Directive for Digital Credit Service Providers, which took effect in September 2025.
The central bank cautioned that using unlicensed loan apps exposes consumers to significant risks, including data privacy breaches, inadequate consumer protection, unfair lending practices, and failure to comply with Ghana’s financial regulations.
List of Unlicensed Loan Apps Identified by the Bank of Ghana
The following digital lending platforms have been identified as operating without authorization:
- 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 Bank of Ghana strongly advised the public not to engage with any of these illegal loan providers, stressing that regulated financial institutions must also avoid processing payments or supporting their operations.
The central bank further announced that it will continue working closely with relevant state agencies to identify, investigate, and take enforcement action against unlicensed digital lenders operating in Ghana.
The BoG encouraged members of the public to report any suspected illegal lending activities directly to the Bank. The ongoing enforcement exercise forms part of broader efforts to strengthen consumer protection, promote safe digital finance, improve financial security, and maintain confidence in Ghana’s regulated financial system.
Source: newsthemegh.com