The Bank of Ghana (BoG) has cautioned the public against using 20 mobile loan applications it says are operating without the required licence or authorisation to provide digital credit services in the country.
The central bank said the activities of the identified applications raise concerns over compliance with customer data privacy, consumer protection and other regulatory requirements governing digital lending in Ghana.
The applications flagged by the BoG 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 and Zoom Advance.
In a statement, the central bank said it was working with relevant state institutions to identify and investigate the operators behind the applications.
The BoG said appropriate enforcement action would be taken against the operators where violations are established.
The latest warning forms part of the regulator’s ongoing efforts to bring Ghana’s rapidly expanding digital lending industry under tighter regulatory control and protect consumers from potentially abusive or non-compliant operators.
The central bank stressed that digital credit providers are required to obtain the appropriate licence or authorisation before commencing operations in Ghana.
This follows the BoG’s Digital Credit Services Providers Guidelines, issued in September 2025, which established regulatory requirements for entities providing digital credit services.
The guidelines are intended to strengthen oversight of digital lending activities and ensure that operators comply with standards relating to consumer protection, data handling and responsible lending.
The BoG has consequently urged members of the public to exercise caution when seeking loans through mobile applications and to verify whether the provider is duly authorised before engaging its services.
It also warned banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) against facilitating or processing transactions for unlicensed digital credit providers.
“The general public is therefore strongly advised not to engage with unlicensed loan providers,” the central bank said.
It further encouraged consumers who encounter unlicensed digital credit operations to report them directly to the Bank of Ghana.
The regulator said it would continue collaborating with other state institutions to identify, investigate and take enforcement action against operators who violate Ghana’s digital credit regulations.
The BoG said the measures are necessary to safeguard consumers while protecting the integrity, safety and stability of the financial sector.
