The Bank of Ghana (BoG) has cautioned the public against using 20 mobile loan applications operating without the requisite licence or authorisation, warning that their activities violate the country's regulatory framework and pose risks to consumers.

In a public notice issued on August 3, the central bank said it had observed the continued operation of digital credit service providers offering loans through online platforms despite lacking approval from the Bank of Ghana.

The notice follows an earlier advisory on unlicensed Digital Credit Service Providers (DCSPs), referenced as Notice No. BG/GOV/SEC/2026/22, and comes amid efforts by the regulator to strengthen oversight of Ghana's growing digital lending sector.

According to the Bank, the unlicensed operators are acting in contravention of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025 under Notice No. BG/GOV/SEC/2025/30, as well as other applicable laws.

List of unlicensed loan apps

The Bank of Ghana identified the following 20 mobile loan applications as operating without the required licence or authorisation:

• Adamfo Loan
• Agyapacredit
• Amanfi Loan
• Arco Cash
• Aya Lend
• Bucks Now
• CediGo
• CGrab
• DumboCash
• FCash
• Gh Loans
• Gh Loans Pro
• Hasty Credit
• Newgry Money Tree
• Omanpesa
• PoPoCedi
• Ready Money
• Sika Tap
• Sikapa Loan
• Zigwe Loan

The central bank warned that the operations of these applications constitute significant breaches of customer data privacy, consumer protection requirements and established regulatory standards.

The Bank said it would continue working with relevant state institutions to identify, investigate and take enforcement action against operators of unlicensed digital lending platforms.

According to the BoG, the move is intended to protect consumers while preserving the integrity and stability of Ghana's financial sector.

"The Bank of Ghana will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities in order to safeguard consumers and uphold the integrity and stability of the financial sector," the notice stated.

The Bank has urged members of the public not to transact with unlicensed digital loan providers, warning that doing so could expose them to financial and privacy risks.

It also cautioned banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) against facilitating or processing transactions on behalf of unlicensed loan providers.

The regulator noted that financial institutions are expected to comply with Ghana's regulatory framework and refrain from supporting entities operating outside the law.

The Bank of Ghana has encouraged members of the public who become aware of the activities of unlicensed loan providers to report them to its Fintech and Innovation Department at its headquarters in Ridge, Accra.

Reports can also be submitted via telephone on +233 30 273 9650 or by email through fintech@bog.gov.gh or digitalcredit@bog.gov.gh.