The Bank of Ghana (BoG) has cautioned the public against engaging with unlicensed digital loan providers, naming 20 mobile loan applications that are operating illegally in the country.

According to the Central Bank, the listed digital credit service providers are offering loans to the Ghanaian public through digital platforms without the required licence or authorisation, in breach of the Directive for Digital Credit Service Providers in Ghana issued in September 2025 and other applicable laws.

The warning was contained in a public notice, No. BG/GOV/SEC/2026/25, issued yesterday and signed by the Secretary of the Bank, Ms Aimee Vyda Quashie.

The BoG explained that despite an earlier public notice cautioning against unlicensed digital credit service providers, some entities had continued to operate illegally, exposing unsuspecting customers to significant risks.

The affected applications are Adamfo Loan, Agyapacredit, Amanfi Loan, Arco Cash, Aya Lend, Bucks Now, CediGo, CGrab, DumboCash, FCash, Gh Loans, Gh Loans Pro, Hasty Credit, Newgry Money Tree, Omanpesa, PoPoCedi, Ready Money, Sika Tap, Sikapa Loan and Zigwe Loan.

The Central Bank stressed that the activities of the operators of these applications posed serious concerns, including violations of customer data privacy, inadequate consumer protection and disregard for established regulatory standards governing digital lending services in Ghana.

It noted that consumers who patronise such unlicensed platforms risk exposing their personal and financial information to misuse while also having limited avenues for redress in the event of disputes.

The BoG said it remained committed to protecting consumers and preserving confidence in the country’s financial system by ensuring that all digital credit providers complied with the applicable regulatory framework.

To achieve this, the bank said it would continue to work closely with relevant state institutions to identify, investigate and take appropriate enforcement action against operators found to be providing unauthorised digital lending services.

The notice also cautioned banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) against facilitating or processing transactions on behalf of unlicensed loan providers, warning that such engagements could undermine regulatory compliance and the integrity of the financial sector.

Furthermore, the BoG urged members of the public to exercise caution when seeking digital loans and to verify that any digital credit provider had been duly licensed or authorised before conducting business with it.

It encouraged individuals who become aware of the activities of unlicensed digital loan providers to report them to the Fintech and Innovation Department of the Bank of Ghana to support ongoing regulatory enforcement efforts.

The Central Bank reiterated that promoting responsible digital lending and ensuring compliance with regulatory requirements remained critical to safeguarding consumer interests and maintaining the stability of Ghana’s rapidly evolving digital financial services ecosystem.

The BoG advised all stakeholders, including financial institutions, digital service providers and the general public, to take note of the directive and cooperate with efforts aimed at eliminating illegal digital lending operations from the country’s financial landscape.