BoG names 20 illegal loan apps operating in Ghana, warns public: Full list, how to report and stay safe

• BoG has named 20 illegal loan apps operating without the required licence and warned the public to avoid using them.

• The central bank says the apps pose risks to consumer protection, data privacy and regulatory compliance.

• Ghanaians are encouraged to report unlicensed lenders to the Bank of Ghana and use only approved digital loan providers.

In a notice dated 3 August 2026 and numbered BG/GOV/SEC/2026/25, the central bank said it had observed the continued operation of entities providing digital loans to the Ghanaian public through digital channels despite lacking the necessary regulatory approval.

The notice referenced an earlier warning issued under Notice No. BG/GOV/SEC/2026/22, indicating that the problem of unlicensed digital credit service providers has persisted despite previous cautions from the regulator.

Also Read: Here are the 97 illegal loan apps the BoG has warned Ghanaians about

According to the notice signed by Aimee Vyda Quashie, Secretary to the Bank of Ghana, the loan applications currently operating without a licence or authorisation are:

1. Adamfo Loan

2. Agyapacredit

3. Amanfi Loan

4. Arco Cash

5. Aya Lend

6. Bucks Now

7. CediGo

8. CGrab

9. DumboCash

10. FCash

11. Gh Loans

12. Gh Loans Pro

13. Hasty Credit

14. Newgry Money Tree

15. Omanpesa

16. PoPoCedi

17. Ready Money

18. Sika Tap

19. Sikapa Loan

20. Zigwe Loan

Also Read: BoG collaborates with Google to remove 200 illegal loan apps

The central bank warned that the activities of these platforms constitute significant violations of customer data privacy, consumer protection and established regulatory standards. The warning highlights growing concerns over how unlicensed lenders collect, store and use the personal and financial information of borrowers, many of whom rely on digital loans to meet urgent financial needs.

The Bank of Ghana added that it will continue to collaborate with relevant state institutions to identify, investigate and take appropriate enforcement action against such entities as part of efforts to protect consumers and preserve the integrity and stability of the financial sector.

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Beyond cautioning borrowers, the central bank also warned banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) against facilitating or processing transactions on behalf of unlicensed loan providers.

The directive signals that the Bank of Ghana intends to scrutinise not only the illegal loan apps themselves but also the financial institutions that enable their transactions.

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With digital lending becoming increasingly popular in Ghana, consumers are being urged to take basic precautions before borrowing from any mobile loan application.

Prospective borrowers should first verify whether a lender appears on the Bank of Ghana's official list of licensed institutions before downloading an app or providing personal information. Any app that is not on the list, or closely resembles the names published in Bank of Ghana warnings, should be treated with caution.

Borrowers should also avoid apps that request excessive permissions, such as access to contacts, photos, messages and call logs. Unlicensed lenders have often been accused of using such information to harass or intimidate borrowers during debt recovery.

Consumers are further advised to read loan terms carefully, including interest rates, repayment periods and any hidden charges, before accepting any offer. They should avoid platforms that pressure them into borrowing without providing clear terms and conditions.

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Anyone already dealing with an unlicensed lender should keep records of all communications and transactions, avoid engaging with abusive operators, and report the matter to the Bank of Ghana rather than attempting to resolve disputes directly with the lender.

The Bank of Ghana is encouraging members of the public to report the activities of unlicensed loan providers to its Fintech and Innovation Department.

Reports can be made by:

• Telephone: +233 30 273 9650

• Email: fintech@bog.gov.gh or digitalcredit@bog.gov.gh

• In person: Fintech and Innovation Department, The Bank Square, 42 Castle Road, Ridge, Accra

The public can also visit the Bank of Ghana's official website for further information and guidance.

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The latest warning, issued just months after a similar notice earlier in 2026, underscores the persistent challenge facing Ghana's financial regulator in policing the fast-growing digital lending sector.

Unlicensed loan apps continue to target consumers through aggressive online advertising and social media campaigns, often promising instant loans with little or no documentation.

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Consumer advocates have repeatedly raised concerns over excessive interest rates, abusive debt collection practices and the misuse of borrowers' personal data, issues the Bank of Ghana says it remains committed to addressing through continued public awareness and coordinated enforcement action.