BoG names 20 loan apps operating without licence

The Bank of Ghana (BoG) has identified 20 mobile loan applications operating without the required licence or authorisation to provide digital credit services in Ghana.

The central bank said the action forms part of its ongoing efforts to sanitise the digital credit market, strengthen consumer protection and prevent the public from falling victim to unlicensed lending activities.

In a public notice, the BoG said the identified applications were operating in violation of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025.

The 20 loan applications identified by the central bank are:

1. Agile Loan
2. AmanaPay
3. CashWay
4. Foutou Credit
5. HastyCredit
6. InsCash
7. KudiNow
8. LendAura
9. Lever Credit
10. LoanGlide
11. NovaCedi
12. Palm Loan
13. PocketLoan
14. Rite Credit
15. SikaCare
16. SikaNow
17. Susu Loan
18. Taploan Up
19. Temivo Cedi
20. Zatuloan

The BoG said the operations of the identified entities constitute significant violations of customer data privacy, consumer protection requirements and established regulatory standards.

The central bank therefore urged members of the public to avoid engaging with unlicensed digital loan providers.

“The general public is therefore strongly advised not to engage with unlicensed loan providers,” the BoG cautioned.

It also warned banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) against facilitating or processing transactions on behalf of unlicensed loan providers.

The latest action forms part of the Bank of Ghana’s broader efforts to address illegal digital lending in the country.

The central bank has previously reported identifying hundreds of unlicensed loan applications offering unapproved lending products to Ghanaian consumers. Investigations into such platforms have raised concerns over excessive interest charges, the collection of personal information without appropriate consent and harassment of borrowers who default.

The BoG has also worked with other state institutions and technology companies to disrupt the operations of illegal loan applications, including efforts to have offending applications removed from digital platforms.

The central bank said it will continue working with relevant state institutions to identify and investigate unlicensed digital credit providers and take appropriate enforcement action.

It said the objective is to safeguard consumers while protecting the integrity, safety and stability of Ghana’s financial sector.

The BoG has further encouraged members of the public who become aware of the activities of unlicensed loan providers to report them to the central bank.

Consumers are also advised to verify whether a digital credit provider is authorised before entering into any borrowing arrangement.