Audio By Carbonatix
The Bank of Ghana (BoG) has warned the public not to engage the services of some 19 unlicensed entities for loans.
The Central Bank said the operations of these institutions are in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016.
The BoG in a press statement issued on Monday, August 22, revealed that they mostly employ the use of mobile applications and social media in their operations.
These entities include SikaPurse Quick Online loan, 4Cedi Instant Mobile loan application, Zidisha Online Loans, Ghana Lending Application, AdamfoPa Loan, CrestCash Loan, MobiLoan Application and Cedi Now – Cash Loans Application.
The Central Bank further stated that, “the activities of these unauthorised entities amount to non-adherence of the consumer protection requirements and an abuse of customers’ data and privacy laws”.
The Bank of Ghana, however, noted that it is taking steps to take action against these entities and thus advised the general public to report such activities.
Latest Stories
-
Falling inflation doesn’t mean cheaper goods – Oppong Nkrumah cautions government
21 minutes -
Asante Kotoko should have appointed Ignatius Osei-Fosu – Kojo Addae-Mensah
26 minutes -
Ghanaians should accept Queiroz as a defensive coach – Kojo Addae-Mensah
32 minutes -
Ghana introduces New Basic School Curriculum with Coding, AI and Local Language focus
36 minutes -
Asamoah Gyan visits John Laryea ahead of August 15 fight against Adrian Robledo Maximiliano
36 minutes -
Mid-Year Budget must outline plan to sustain economic gains – Prof Bokpin
37 minutes -
‘Dangerous and baseless’ – Stephen Amoah slams Global InfoAnalytics MPs performance poll
38 minutes -
Further infant remains uncovered at former mother-and-baby home
53 minutes -
When thousands can’t opt out: The broken system behind national service cloth deductions
53 minutes -
Meet 2026 jury for Blackstar International Film Festival
57 minutes -
Mahama calls on Africa to manufacture its own medicines to end import dependence
59 minutes -
Carlos Queiroz could join CAF review after Ghana’s World Cup campaign
1 hour -
Mahama, WHO chief call for stronger pharmaceutical production to reduce Africa’s health dependence
1 hour -
Fondation Ahobah feeds more than 200 children, donates supplies to Kasoa orphanage
1 hour -
Sammy Crabbe urges NPP unity as Chairman Wontumi faces 20-year jail term
1 hour