The Bank of Ghana has identified 20 mobile loan applications operating without the required licence or authorisation and warned the public against using their services.
The latest notice, issued on Tuesday, September 8, 2026, forms part of the central bank’s ongoing efforts to sanitise Ghana’s digital credit market and protect consumers from unregulated lending activities.
The flagged applications 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.
According to the BoG, the identified providers are operating in contravention of the Directive for Digital Credit Service Providers in Ghana issued in September 2025.
The central bank said the operations of unlicensed digital credit providers constitute “significant violations of customer data privacy, consumer protection, and established regulatory standards.”
The warning follows an earlier BoG notice on unlicensed Digital Credit Service Providers (DCSPs), as the regulator intensifies efforts to identify and take action against entities offering digital loans without regulatory approval.
The BoG said it would continue working with relevant state institutions to identify, investigate and take appropriate enforcement action against unlicensed providers.
“The Bank of Ghana will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities,” the notice stated.
The regulator said the measures are intended to safeguard consumers and uphold the “integrity, safety, and stability of the financial sector.”
The BoG has also cautioned banks, specialised deposit-taking institutions and payment service providers against facilitating or processing transactions on behalf of unlicensed digital loan providers.
Members of the public have been urged to exercise caution and avoid engaging with unlicensed loan providers.
The central bank further encouraged anyone who becomes aware of the activities of unlicensed digital lenders to report them to its Fintech and Innovation Department in Accra through the contact channels provided by the regulator.
