Full list: BoG names 20 unlicensed loan apps operating in Ghana

Maxwell Nyagamago 08:40 - 09 September 2026

Bank of Ghana

The Bank of Ghana (BoG) has identified 20 mobile loan applications operating without the requisite licence or authorisation to provide digital credit services in Ghana.

BoG has named 20 mobile loan apps operating without the required licence or authorisation.
The central bank warned the apps pose risks to customer data privacy and consumer protection.
The public has been advised to avoid unlicensed lenders and report them to BoG.

In a notice issued on September 8, 2026, the central bank said the move forms part of efforts to sanitise the digital credit space and protect consumers from entities operating outside the regulatory framework.

The BoG said the activities of the identified providers contravene the Directive for Digital Credit Services Providers in Ghana, issued in September 2025.

The central bank also warned that the operations of the unlicensed entities pose concerns relating to customer data privacy, consumer protection and regulatory compliance.

Also Read: How to survive in Ghana without depending on loan apps or MoMo borrowing

“The Bank reiterates that the operations of these entities constitute significant violations of customer data privacy, consumer protection, and established regulatory standards.”

BoG warns public against unlicensed loan providers

Dr. Johnson Pandit Asiama, Governor of the Bank of Ghana (BoG)

The Bank of Ghana urged members of the public to avoid dealing with unlicensed digital credit providers.

“The general public is therefore strongly advised not to engage with unlicensed loan providers,” the Bank said.

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.

Also Read: 8 ways to repay your loan early and save Money on interest

The central bank said it would continue working with relevant state institutions to identify, investigate and take enforcement action against operators that breach the regulations.

“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, safety, and stability of the financial sector.”

The BoG further encouraged members of the public who become aware of unlicensed loan providers to report their activities to the Bank's FinTech and Innovation Department.