Bank of Ghana names 20 illegal loan apps operating without licence
The Bank of Ghana has warned the public against using 20 digital lending platforms it says are operating without regulatory approval, as authorities intensify efforts to protect consumers from unlicensed online lenders.
The Bank of Ghana (BoG) has published a list of 20 digital loan applications operating without a licence, warning the public against engaging with the platforms.
The central bank said the companies had been offering digital loans to customers through online channels without the required authorisation to operate in Ghana.
According to the BoG, the activities of these lenders breach the Directive for Digital Credit Service Providers in Ghana, introduced in September 2025, as well as other financial sector regulations.
The warning forms part of efforts by regulators to address concerns over consumer protection, data privacy and unfair lending practices linked to some digital loan platforms.
The loan apps flagged by BoG
The Bank of Ghana identified the following applications as operating without the necessary licence:
• 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
Concerns over consumer protection
The central bank said the operations of unlicensed digital lenders pose risks to customers, particularly regarding data privacy, consumer protection and compliance with regulatory standards.
It cautioned banks, specialised deposit-taking institutions and payment service providers against facilitating transactions for unlicensed loan operators.
The BoG also urged members of the public to avoid borrowing from digital lenders that are not authorised by the regulator.
BoG promises enforcement action
The central bank said it would continue working with relevant state institutions to identify, investigate and take enforcement action against illegal digital credit providers.
It encouraged anyone who becomes aware of the activities of unlicensed loan providers to report them to the Bank of Ghana.
The warning comes as digital lending platforms continue to grow in Ghana, with many consumers turning to mobile loan applications for quick access to credit.
However, regulators have raised concerns about some operators’ lending practices, including access to customers’ personal information and aggressive debt collection methods.