The Bank of Ghana (BoG) has publicly identified 20 mobile loan applications operating without the required licence or authorisation to provide digital credit services in the country.
In a public notice issued on September 8, 2026, the central bank said the identified entities were offering loans through digital platforms in flagrant violation of the Directive for Digital Credit Service Providers in Ghana, which took effect in September 2025 . The notice, issued under No. BG/GOV/SEC/29, forms part of ongoing efforts to sanitise Ghana’s rapidly expanding digital credit space .
The Bank warned that the operations of these unlicensed platforms constitute serious breaches of customer data privacy, consumer protection standards, and established regulatory requirements .
The 20 flagged applications
The following mobile loan applications have been named by the central bank for operating without regulatory approval :
No. App Name No. App Name
1 Cascredit 11 Nova Cedi
2 Cash Future 12 Onua Loan
3 Cash Cedi 13 Quick Cedi
4 Cashpal 14 Sika Boost
5 Cashpal Pro 15 Sika Credit
6 CreditGo 16 Sompa Loan
7 Funds Credit 17 Sune Credit
8 Glow Credit 18 Swift Lend
9 Moni Wave 19 Target Credit
10 MoniLend 20 Zoom Advance
The central bank had previously issued a similar warning in August 2026, naming a different set of 20 unlicensed applications including Adamfo Loan, CediGo, PoPoCedi, and Sika Tap . The latest notice suggests that some operators continue to flout regulations despite earlier warnings.
Banks and payment providers put on notice
The BoG has cautioned banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) against facilitating or processing any transactions on behalf of the unlicensed loan providers . This move is designed to cut off the financial infrastructure that enables these rogue operators to function.
According to the central bank, it is working with relevant state institutions, including law enforcement and intelligence agencies, to trace, investigate, and prosecute the individuals behind these illegal applications . Enforcement action is expected to follow as investigations continue.
Consumer risks and public advisory
The Bank of Ghana has strongly advised the public against engaging with any of the listed loan applications, warning that consumers who patronise such platforms risk exposing their personal and financial information to misuse . Victims of unlicensed digital lenders often have limited avenues for redress in the event of disputes.
“The operations of these entities constitute significant violations of customer data privacy, consumer protection requirements, and established regulatory standards,” the BoG stated in its notice .
Members of the public who become aware of the activities of unlicensed loan providers have been encouraged to report them directly to the Bank of Ghana’s Fintech and Innovation Department . Reports can be submitted at the Bank’s headquarters at The Bank Square, Ridge, Accra, by telephone on +233 30 273 9650, or by email at fintech@bog.gov.gh or digitalcredit@bog.gov.gh .
Regulatory framework for digital lending
The Directive for Digital Credit Service Providers in Ghana, issued in September 2025, requires all entities offering digital credit services to obtain the necessary licence or authorisation from the Bank of Ghana before commencing operations . The central bank has maintained that any digital lender operating without the required regulatory approval is in contravention of the directive and will face enforcement action.
Regulators globally have been grappling with how to rein in unregulated digital lending platforms, which often operate across borders and leverage technology to bypass traditional regulatory oversight . The BoG’s latest action underscores its commitment to protecting consumers and preserving confidence in Ghana’s financial system as the digital finance ecosystem continues to evolve.
