The Bank of Ghana (BoG) has flagged 20 mobile loan applications for operating without the required licence or authorisation to provide digital credit services in the country.
The central bank issued the warning in a statement on September 8, 2026, as part of its ongoing efforts to regulate Ghana’s growing digital lending sector and protect consumers from unlicensed operators.
According to the BoG, the identified applications are operating in violation of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025.
The 20 loan apps named by the central bank 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
The BoG said the activities of the identified operators raise serious concerns, particularly regarding customer data privacy, consumer protection and compliance with established financial sector regulations.
The central bank stressed that any entity providing digital credit services to the public must first obtain the necessary licence or authorisation.
It warned that operating a digital lending platform without regulatory approval constitutes a breach of the applicable requirements.
The BoG further disclosed that it would continue working with relevant state institutions to identify, investigate and take enforcement action against unlicensed digital lenders operating in Ghana.
The measures, it said, are intended to protect consumers while safeguarding the integrity, safety and stability of the country’s financial sector.
The central bank has therefore advised members of the public to exercise caution when using digital loan applications and to confirm that a platform has the necessary regulatory approval before engaging with it.
Banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) have also been cautioned against facilitating or processing transactions on behalf of unlicensed digital credit providers.
The BoG encouraged anyone who becomes aware of the activities of an unlicensed digital lender to report the matter to the Head of the Fintech and Innovation Department at the Bank of Ghana, The Bank Square, Ridge, Accra.
The latest warning highlights the central bank’s continued push to bring Ghana’s rapidly expanding digital lending industry under proper regulatory oversight and to prevent consumers from being exposed to potentially harmful lending practices.
