The Bank of Ghana (BoG) has identified 20 mobile loan applications operating in Ghana without the required licence or regulatory authorisation to provide digital credit services.
The central bank has cautioned the public against using the platforms, warning that their operations may undermine customer data privacy, consumer protection and other established regulatory requirements.
The 20 unlicensed 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
– Zoom Advance
The BoG said it is working with state law enforcement and intelligence agencies to identify, investigate and prosecute the operators behind the unlicensed applications.
The central bank has also directed commercial banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) to immediately stop processing or facilitating financial transactions on behalf of the unlicensed entities.
Under the Bank of Ghana’s Directive for Digital Credit Services, which took effect in September 2025, all entities providing digital loan services are required to obtain formal authorisation from the central bank before operating in Ghana.
The BoG has therefore urged members of the public to exercise caution and report any suspected unauthorised mobile loan operators directly to the central bank.
By:Rachael Djabakie