The Bank of Ghana (BoG) has cautioned the public against using digital loan applications operating without the required licence or authorisation, warning that such platforms are in breach of the country’s regulatory framework for digital credit services.
In a statement issued on Monday, August 3, the central bank said it had observed the continued operation of several entities providing digital loans to the Ghanaian public through online and mobile platforms without obtaining the necessary approval from the Bank of Ghana.
According to the BoG, the activities of these digital lenders contravene the Directive for Digital Credit Service Providers in Ghana (September 2025), published under Notice No. BG/GOV/SEC/2025/30, as well as other applicable financial sector laws.
The central bank stressed that all institutions offering digital credit services in Ghana are required to obtain the appropriate licence or authorisation before commencing operations.
“The Bank wishes to inform the public that the following mobile loan applications are operating without the requisite licence or authorisation from the Bank of Ghana,” the statement said.
BoG advised the public to exercise caution when dealing with digital lending platforms and urged borrowers to verify the licensing status of loan providers before accessing their services.
The central bank also warned that engaging with unlicensed digital lenders could expose consumers to financial risks, unfair lending practices, data privacy concerns, and other forms of exploitation.
The Bank of Ghana reaffirmed its commitment to safeguarding consumers and maintaining the integrity of Ghana’s financial system, adding that it will continue to monitor the digital lending space and take appropriate regulatory and enforcement actions against entities operating illegally.
The BoG encouraged the public to report suspected unauthorised digital lenders to the Bank and to patronise only licensed and regulated financial institutions.
