BoG Warns Public Over Unlicensed Digital Loan Operators

By Zainab Ali

The Bank of Ghana has renewed its warning against unlicensed companies providing loans to members of the public through mobile applications.

In a notice issued on September 9, 2026, the central bank said it had observed the continued operation of unlicensed entities providing loans through mobile applications in contravention of Ghana’s financial laws.

The warning follows an earlier notice in which the Bank of Ghana identified 20 mobile loan applications operating without the required licence or authorisation.

Among the applications named were 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 and Zigwe Loan.

The increasing popularity of digital lending has made it easier for people to access quick loans using their mobile phones. However, the Bank of Ghana has repeatedly cautioned consumers about dealing with lenders that have not been authorised to operate in Ghana.

The issue is particularly important because unregulated digital lenders may operate outside the consumer-protection framework that applies to licensed financial institutions.

The central bank has therefore urged members of the public to exercise caution and verify the regulatory status of digital lenders before obtaining loans.

The latest notice is part of the Bank of Ghana’s continuing efforts to address illegal lending activities and protect consumers within Ghana’s financial sector.