BoG warns public of 20 unlicensed digital credit services providers
The Bank of Ghana (BoG) in collaboration with the CyberSecurity Authority, has stepped up efforts to sanitise the digital credit space and protect the public from entities providing digital credit services without the requisite licence or authorisation. A statement from the BoG issued on November 2, 2026 said “such activities are conducted in contravention of […]
The Bank of Ghana (BoG) has issued a stern warning to the public about the presence of 20 unlicensed digital credit service providers operating in Ghana. In a joint effort with the CyberSecurity Authority, the BoG has intensified its efforts to eradicate these unauthorized entities and safeguard the public from potential harm.
According to a statement from the BoG, dated November 2, 2026, these unlicensed digital credit service providers are in direct violation of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025. The Bank of Ghana has emphasized that these operations severely violate customer data privacy, consumer protection, and established regulatory standards.
The BoG reiterated its commitment to working alongside relevant state institutions to identify, investigate, and take appropriate enforcement action against these entities. The main objective is to protect consumers and maintain the integrity and stability of the financial sector.
The Bank of Ghana has explicitly advised the public not to engage with these unlicensed loan providers. Additionally, banks, specialized deposit-taking institutions (SDIs), and payment service providers (PSPs) have been cautioned against facilitating or processing transactions on behalf of these unlicensed loan providers.
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