The Bank of Ghana (BoG) has stepped up its crackdown on illegal digital lending, warning the public against using 20 unlicensed digital credit service providers operating in the country.
The central bank has also directed all regulated financial institutions not to facilitate or process transactions for the unlicensed lenders.
In a public notice issued on Monday, August 3, 2026, the BoG said the companies continue to offer digital loans to Ghanaians through mobile applications and other online platforms without the required licence or regulatory approval.
According to the Bank, their operations violate the Directive for Digital Credit Service Providers in Ghana, which came into effect in September 2025.
The BoG warned that the activities of these unlicensed lenders expose consumers to significant risks, including breaches of data privacy, weak consumer protection and non-compliance with regulatory standards.
“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.”
The central bank said it will continue working with relevant state institutions to identify, investigate and take enforcement action against illegal digital lenders as part of efforts to protect consumers and maintain confidence in Ghana’s financial system.
It also encouraged the public to report the activities of unlicensed loan providers directly to the Bank of Ghana to help curb illegal digital lending and promote a safer and more transparent digital finance ecosystem.
The Bank identified the unlicensed loan applications as:
- 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
- Zigwe Loan
