The Bank of Ghana (BoG) has cautioned the public against using 20 digital loan applications operating without regulatory approval, warning that the platforms pose risks to consumers and breach the country’s financial regulations.
In a public notice, the central bank said it had observed the continued operation of digital credit service providers offering loans to Ghanaians through online channels without the required licence or authorisation.
According to the Bank, the activities of these platforms violate the Directive for Digital Credit Service Providers in Ghana (September 2025) and other applicable laws governing the financial sector.
The affected mobile loan applications are:
- Adamfo Loan
- Gh Loans
- Agyapacredit
- Gh Loans Pro
- Amanfi Loan
- Hasty Credit
- Arco Cash
- Newgry Money Tree
- Aya Lend
- Omanpesa
- Bucks Now
- PoPoCedi
- CediGo
- Ready Money
- CGrab
- Sika Tap
- DumboCash
- Sikapa Loan
- FCash
- Zigwe Loan
The central bank warned that dealing with these unlicensed operators could expose consumers to serious risks, including the misuse of personal information and weak consumer protection.
“The Bank reiterates that the operations of these entities constitute significant violations of customer data privacy, consumer protection, and established regulatory standards,” the notice stated.
The Bank of Ghana said it would continue working with relevant state institutions to identify, investigate and take enforcement action against entities operating outside the country’s regulatory framework.
The move, it explained, is intended to protect consumers and preserve confidence in Ghana’s financial system.
The central bank also urged banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) not to process transactions or provide services to unlicensed digital lenders.
“The general public is therefore strongly advised not to engage with unlicensed loan providers,” the Bank said.
Members of the public who encounter the activities of unlicensed digital loan providers have been encouraged to report them to the Bank of Ghana’s Fintech and Innovation Department through its official communication channels.
Read the statement below:
