The Bank of Ghana (BoG) has announced that it will begin receiving applications for licences to operate as digital credit service providers starting November 3, 2025.

The central bank has also issued a new directive outlining the licensing requirements and eligibility criteria for institutions interested in offering these services.

According to BoG, prospective applicants must carefully study the directive and ensure full compliance before submitting their applications.

Digital credit services are financial products delivered through mobile apps and fintech platforms, often providing small, short-term loans outside traditional banking channels.

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BoG formally designated the service as a non-banking activity in August 2025, stressing the need for regulation to enhance consumer protection and foster financial inclusion.

The regulator explained that the move forms part of broader efforts to expand access to credit while strengthening oversight of the fast-growing digital lending space.

However, BoG cautioned that the notice does not grant automatic authorisation to existing operators; all providers must apply and be licensed under the new framework.

The licensing requirements include maintaining a minimum capital of GH₵2,000,000 and observing a transaction limit of GH₵10,000.

Applicants must pay a licence fee of GH₵20,000 (with proof from corporate accounts) and renew their licences every two years.

Applications are to be submitted through the Bank of Ghana’s Online Regulatory Analytics Surveillance System (ORASS).

SSD/SA

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