The Bank of Ghana (BoG) has identified 20 mobile loan applications operating in the country without the required licence or authorisation to provide digital credit services.
The central bank has consequently warned the public against using the flagged platforms, citing concerns over regulatory compliance, customer data privacy and consumer protection.
The affected applications are:
- 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
- Zoom Advance
According to the BoG, the operations of these platforms breach regulatory requirements governing digital credit services in Ghana.
The central bank said it is working with relevant state institutions to trace and investigate the operators behind the flagged applications.
It said appropriate enforcement action would be taken against entities found to be operating in violation of the regulatory framework.
“The Bank of Ghana will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities in order to safeguard consumers and uphold the integrity, safety, and stability of the financial sector,” the BoG said in a statement.
The central bank also urged members of the public who become aware of unlicensed digital lending activities to report them to the BoG.
The BoG has further cautioned banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) against facilitating or processing transactions on behalf of unlicensed loan providers.
“The general public is therefore strongly advised not to engage with unlicensed loan providers,” the statement added.
The latest action forms part of efforts by the central bank to regulate Ghana’s rapidly expanding digital credit sector and protect consumers from potentially exploitative or unauthorised lending platforms.
Under the BoG’s Directive on Digital Credit Services, issued in September 2025, companies seeking to provide digital credit services in Ghana are required to obtain the appropriate licence or authorisation before commencing operations.
The central bank maintains that any digital lender operating without the required regulatory approval is in breach of the directive.
The BoG has therefore urged consumers to verify the regulatory status of digital lenders before using their services and to avoid platforms that do not have the necessary approval to operate. 
Source: Wesleyannews.com
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