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.
In a statement issued on September 8, 2026, the latest warning is part of the central bank’s ongoing efforts to sanitise the digital credit space and protect consumers from entities providing digital credit services without regulatory approval.
According to the BoG, the identified loan applications are operating in contravention of the Directive for Digital Credit Service Providers in Ghana (September 2025.)
The mobile loan applications named by the central bank 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
Zoom Advance
The Bank of Ghana said the operations of these entities constitute significant violations of customer data privacy, consumer protection requirements and established regulatory standards.
The central bank stressed that digital credit providers are required to obtain the necessary licence or authorisation before offering loan services to the public.
The BoG said it will continue to collaborate with relevant state institutions to identify and investigate unlicensed digital lenders and take appropriate enforcement action against them.
It explained that these measures are aimed at safeguarding consumers and protecting the integrity, safety and stability of Ghana’s financial sector.
The central bank has therefore strongly advised members of the public not to engage with unlicensed loan providers, warning consumers to ensure that any digital lending platform they use has the necessary regulatory approval.
Banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) have also been cautioned against facilitating or processing transactions on behalf of unlicensed loan providers.
The BoG further encouraged members of the public who become aware of the activities of unlicensed digital lenders to report them to the Head of the Fintech and Innovation Department, Bank of Ghana, The Bank Square, Ridge, Accra.