BoG flags 20 mobile loan apps operating without licence

The Bank of Ghana (BoG) has issued a warning about 20 mobile loan applications that are operating illegally, lacking the necessary licenses. In a notice issued on September 9, 2026, the central bank expressed concerns that these entities are violating customer data privacy, consumer protection, and regulatory standards. The BoG has advised the public to refrain from interacting with these unauthorized loan providers and has cautioned other banks, Specialized Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) from facilitating transactions for them.

The central bank's action is part of efforts to clean up Ghana's digital credit space and protect consumers from unlicensed digital credit service providers. The notice comes after the publication of the Directive for Digital Credit Service Providers in Ghana in September 2025. The BoG has urged the public to be cautious and confirm the regulatory status of digital lenders before engaging their services.

The following is the list of the unlicensed loan applications: Cascredit, Nova Cedi, Cash Future, Onua Loan, Cash Cedi, Quick Cedi, Cashpal, Cashpal Pro, CreditGo, Sompa Loan, Funds Credit, Glow Credit, Moni Wave, MoniLend, and Zoom Advance.