The Bank of Ghana (BoG) has formally designated Digital Credit Services as a Non-Bank Financial Service under the First Schedule of the Non-Bank Financial Institutions Act, 2008 (Act 774).
The move, announced in a notice dated August 29, 2025, forms part of the central bank’s broader efforts to expand access to the financial system and deepen financial inclusion.
The BoG, however, clarified that the designation does not amount to automatic authorization or licensing of entities currently offering digital credit services.
According to the central bank, a detailed directive outlining the licensing requirements and operational guidelines for the provision of such services will be issued in due course.
The Bank urged all stakeholders, particularly institutions offering digital credit, to take note of the development.
Source: AdomOnline
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