The Bank of Ghana (BoG) has issued a strong public warning against the use of 20 unlicensed digital loan apps operating illegally in Ghana without regulatory approval.
In a public notice released on Monday, August 3, 2026, the central bank stated that the unauthorized digital lending platforms continue to provide loans through mobile apps and other online channels despite lacking the required licences to operate within Ghana’s financial sector.
The BoG has also directed all licensed banks, savings and loans companies, microfinance institutions, and other regulated financial institutions not to support, process, or facilitate transactions for these illegal digital lenders.
According to the central bank, the activities of the unlicensed digital credit service providers violate the Directive for Digital Credit Service Providers, which took effect in September 2025 to regulate Ghana’s growing digital lending industry.
The Bank of Ghana further cautioned that using unregulated online loan apps exposes consumers to serious risks, including breaches of data privacy, inadequate consumer protection, unfair lending practices, and non-compliance with Ghana’s financial regulations. The BoG urged the public to deal only with licensed and regulated digital lenders to ensure the safety of their personal information and financial transactions.
BoG Statement Below:
Source: newsthemegh.com