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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
The Bank of Ghana has indicated that it will soon take regulatory action against unlicensed Digital Credit Service Providers (DCSPs) operating in the country.
The announcement follows the expiration of the June 30 deadline for existing mobile loan applications and Digital Credit Service Providers operating without a licence to regularise their operations.
In a statement, the Bank of Ghana noted that all entities that failed to comply with the directive may be subject to regulatory action in accordance with applicable laws and regulations.
Source: newsthemegh.com