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The Bank of Ghana has introduced fresh licensing requirements for Digital Credit Services Providers, setting a minimum capital threshold of GH¢2 million for firms seeking approval to operate.
Digital Credit Services Providers are companies that use digital platforms and mobile technology to offer short-term or microloans to consumers and businesses without the need for traditional banking infrastructure.
The directive, published on September 23, 2025, forms part of the regulator’s efforts to strengthen oversight of the country’s fast-expanding digital lending industry. According to the Bank, applications will be accepted through its Online Regulatory Analytics Surveillance System (ORASS) beginning November 3, 2025.
Under the new framework, prospective providers must show evidence of the minimum capital in their corporate accounts, supported by a detailed funding plan. In addition, a gearing ratio of 8 has been established, alongside transaction limits capped at GH¢10,000.
Applicants will also be required to pay a GH¢10,000 processing fee, GH¢20,000 licensing fee, and GH¢10,000 renewal fee every two years. The requirements cover governance, technology, risk management, and consumer protection safeguards, in line with the regulator’s bid to promote stability and consumer confidence.
Beyond financial capacity, the directive compels companies to submit comprehensive business plans, including five-year financial projections, product outlines, and details of ICT systems to be deployed. Firms must also demonstrate robust measures against money laundering, fraud, and cybersecurity risks, supported by a Business Continuity and Disaster Recovery Plan.
Significantly, at least 30 per cent of equity must be held by a Ghanaian national, while no single shareholder may hold more than 90 per cent of ownership. Directors and key managers must meet the Bank’s “fit and proper” requirements, including proof of integrity and professional competence.
The regulator stressed that the licensing regime is designed to ensure that only well-capitalised and professionally run firms participate in the digital credit market. “Applicants are required to adequately abreast themselves with the Directive and comply accordingly,” the Bank stated.
The move is expected to improve accountability within the digital lending space, which has witnessed rapid growth but also rising consumer complaints. The Bank of Ghana said it would continue to engage stakeholders to maintain a balance between innovation, financial inclusion, and consumer protection.
