The Bank of Ghana has announced that it will open applications for digital credit service providers from November 3, 2025.

The Central Bank, in the same notice, revealed that it has also released a directive for digital credit service providers and licensing requirements for all institutions wanting to apply for these licences.

“The directive has specified all who qualify to apply for this licence,” the regulator added in the statement.

The Bank of Ghana also reminded the public that “prospective applicants are required to adequately acquaint themselves with the directive and comply accordingly.”

What are Digital Credit Services?

These are financial services and credit delivered via mobile applications and fintech platforms.

Some of these firms also focus exclusively on providing small-ticket, short-term loans to individuals and businesses outside traditional banking channels — a practice the Bank of Ghana now seeks to regulate.

The Bank of Ghana, in a notice on August 29, 2025, announced that it has designated Digital Credit Service as a non-banking service.

The move, according to the Bank of Ghana, is a part of measures to aid financial inclusion in the country and improve regulations for players in that sector.

It also wants to go ahead to broaden access to the financial system with the view to promote financial inclusion.

The Central Bank emphasises that this notice does not confer automatic authorisation or license to provide digital credit services on all entities which currently provide services and operate under the First Schedule of Act 774.

Licensing requirements for Digital Credit Service Providers

The Bank of Ghana has also announced that any firm wanting to secure a licence to operate a digital credit service must have a minimum capital requirement of GHC 2,000,000 and a transaction limit of GHC 10,000.

The cost of the licence will be pegged at GHC 20,000 (evidence in corporate accounts).

On the other hand, renewals will be done every two years.

An applicant who intends to apply for a Digital Credit Services providers licence shall apply to the Bank of Ghana through its Online Regulatory Analytics Surveillance System (ORASS).