BoG warns public against 20 unlicensed digital loan apps

The Bank of Ghana headquarters

The Bank of Ghana (BoG) has warned the public against engaging with 20 digital loan applications operating in the country without the required licence or authorisation from the central bank.

In a statement issued on Monday, August 3, 2026, the central bank said it had observed the continued operation of entities providing digital loans through digital channels despite lacking regulatory approval.

"The Bank of Ghana has observed the continued operation of entities providing digital loans to the Ghanaian public through digital channels without the requisite licence or authorisation from the Bank of Ghana," the notice stated.

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According to the central bank, the operations of these entities contravene the Directive for Digital Credit Service Providers in Ghana (September 2025) and other relevant laws governing digital lending in the country.

The BoG identified the affected loan applications as Admfo Loan, AgyapaCredit, Atuani Loan, Arco Cash, Aya Lend, Bucks Now, CediGo, Criab, DumboCash, FCash, Gh Loans, Gh Loans Pro, Hasty Credit, Newgry Money Tree, Omanpesa, PoPoCedi, Ready Money, Sika Tap, Sikapa Loan and Zigwe Loan.

"The following mobile loan applications are operating without the requisite licence or authorisation from the Bank of Ghana," the regulator stated while publishing the list.

The central bank further warned that the activities of the listed platforms pose significant risks to consumers.

"The operations of these entities constitute significant violations of customer data privacy, consumer protection and established regulatory standards," the BoG said.

It added that it would continue to work with relevant state institutions to identify, investigate and take appropriate enforcement action against the unlicensed operators to safeguard consumers and uphold the integrity and stability of the financial sector.

The BoG also advised members of the public to avoid dealing with the listed loan providers.

"The general public is therefore strongly advised not to engage with unlicensed loan providers," it emphasised.

The central bank further cautioned licensed Payment Service Providers (PSPs) and Specialised Deposit-Taking Institutions (SDIs) against facilitating transactions for the unlicensed operators.

"Licensed Payment Service Providers (PSPs) and Specialised Deposit-Taking Institutions (SDIs) are also cautioned against facilitating or processing transactions on behalf of unlicensed loan providers," the notice added.

The BoG further encouraged members of the public to report the activities of unlicensed digital lenders to its Fintech and Innovation Department for the necessary action.