Full list: Bank of Ghana names 20 unlicensed loan apps operating in Ghana

• The Bank of Ghana has identified 20 mobile loan applications operating without valid licences and warned the public against using their services.

• The central bank has directed banks, Specialised Deposit-Taking Institutions and Payment Service Providers to stop facilitating or processing transactions for the unlicensed operators.

• The BoG, working with the Cyber Security Authority, says it is taking steps to address unauthorised digital lending and has urged consumers to report information about the identified applications.

In a notice issued on November 2, the central bank said the applications were operating in breach of its Directive for Digital Credit Service Providers in Ghana, introduced in September 2025 to regulate the country's expanding digital lending sector.

According to Citi News, the 20 applications identified by the regulator are:

1. Active Loan

2. Boafo Cash

3. Cediln

4. Fair Moni

5. Fast Loan

6. Halo Loan

7. Jmoney

8. Kredi

9. KudiNow

10. LendJet

11. MeCedi

12. NhyiraCash

13. Palcash

14. Quick Eazzy

15. SikaFlow

16. SikaNea

17. Swift Lending

18. TrustCredit GH

19. Velzo

20. Zedvance

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The Bank of Ghana said the activities of the unlicensed operators raised concerns about consumer protection, data privacy and compliance with financial regulations.

It added that efforts were underway in collaboration with the Cyber Security Authority to address the activities of unauthorised digital lenders and protect consumers from potential risks associated with using their services.

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As part of measures to prevent the platforms from accessing the formal financial system, the central bank has directed banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) to stop processing or facilitating transactions for the identified operators.

The directive requires regulated institutions to ensure their systems and payment channels are not used to support the activities of digital credit providers operating outside the approved regulatory framework.

The regulator also said it would continue working with relevant state agencies to identify and investigate unlicensed lending operators, with enforcement measures to follow where necessary.

Members of the public have been urged to avoid engaging with the identified applications and report information about their activities to the Bank of Ghana.