The Bank of Ghana has intensified efforts to clamp down on illegal mobile loan apps and digital lending platforms, directing all unlicensed operators to secure proper authorization or risk being shut down.
The move is aimed at protecting consumers amid rising complaints about predatory lending, data abuse, and harassment tactics used by some digital credit providers.
In a public notice issued on Monday, November 3, 2025, the central bank gave non-compliant firms until June 30, 2026 to meet regulatory requirements and submit full licensing documentation.
According to the Bank, operators who fail to regularize their status by the deadline will face sanctions, including potential removal from the market.
The initiative forms part of broader efforts to streamline Ghana’s fast-growing digital lending space and ensure that only approved providers offer mobile credit services.
The regulator also confirmed that it has officially opened its digital lending license application window, giving legitimate fintechs and online lenders the opportunity to formally enter the market as Digital Credit Services Providers.
The Bank of Ghana has cautioned the public to conduct due diligence and patronize only regulated platforms, emphasizing that properly licensed services offer greater transparency, data protection, and consumer safety.
