The Bank of Ghana has issued a stern warning to the general public against engaging with 20 unlicensed digital credit service providers operating illegally in the country.
According to the central bank, the affected platforms are offering digital credit services without securing the requisite licence or authorization, directly contravening the Directive for Digital Credit Service Providers in Ghana issued in September 2025.
The regulator listed the unauthorized mobile loan applications as 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, and Zoom Advance.
Highlighting the risks posed by these illegal platforms, the regulator noted that their operations undermine consumer safety and data integrity within the financial system.
“The Bank reiterates that the operations of these entities constitute significant violations of customer data privacy, consumer protection, and established regulatory standards,” the central bank stated.
To safeguard the public and maintain financial stability, the central bank affirmed its commitment to pursuing enforcement measures against non-compliant entities.
“The Bank of Ghana will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities in order to safeguard consumers and uphold the integrity, safety, and stability of the financial sector,” the notice added.
The central bank strongly advised the public to refrain from engaging with unlicensed loan operators. Commercial banks, Specialised Deposit-Taking Institutions, and Payment Service Providers have also been cautioned against processing or facilitating transactions for any of the blacklisted platforms.
Members of the public with information regarding the operations of unlicensed loan providers have been urged to report them directly to the Fintech and Innovation Department of the Bank of Ghana at The Bank Square in Ridge, Accra.
