The Bank of Ghana (BoG) has identified 20 mobile loan applications operating in the country without the required licence or authorisation to provide digital credit services.
The affected apps are Cascredit, Cash Future, Cash Cedi, Cashpal, Cashpal Pro, CreditGo, Funds Credit, Glow Credit, Moni Wave, MoniLend, Nova Cedi, Onua Loan, Quick Cedi, Sika Boost, Sika Credit, Sompa Loan, Sune Credit, Swift Lend, Target Credit and Zoom Advance.
According to the central bank, the operations of these platforms breach regulatory requirements, including customer data privacy and consumer protection standards.
The BoG said it is working with relevant state institutions to trace and investigate the operators behind the applications, with enforcement action to follow.
It has consequently warned members of the public against using the flagged platforms and encouraged anyone who comes across unlicensed digital lending activities to report them to the central bank.
“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 general public is therefore strongly advised not to engage with unlicensed loan providers. Banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) are also cautioned against facilitating or processing transactions on behalf of unlicensed loan providers. Members of the public who become aware of the activities of unlicensed loan providers are encouraged to report them to the Bank of Ghana,” the statement said.
The latest move is part of efforts by the BoG to clean up Ghana’s rapidly expanding digital credit sector and shield consumers from potentially exploitative or unauthorised lending platforms.
Under the BoG’s Directive on Digital Credit Services, issued in September 2025, companies offering digital credit services in Ghana are required to secure the appropriate licence or authorisation before commencing operations.
The central bank maintains that any digital lender operating without the required regulatory approval is in violation of the directive.
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