Twenty mobile loan applications have been identified by the Bank of Ghana (BoG) as operating without the required licence or authorisation.
This was disclosed by the central bank in a public notice dated September 8, 2026, as it steps up efforts to sanitise Ghana’s digital credit sector and protect consumers from unregulated lenders.
According to the BoG, the affected 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.
The central bank said the operators are providing digital credit services in breach of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025.
The BoG said the continued operation of the affected platforms raises concerns over consumer protection and the handling of customers’ personal information.
“The operations of these entities constitute significant violations of customer data privacy, consumer protection, and established regulatory standards.”
The regulator has consequently urged members of the public not to engage with unlicensed digital credit providers.
Banks, Specialised Deposit-Taking Institutions and Payment Service Providers have also been cautioned against facilitating or processing transactions on behalf of unlicensed loan providers.
The BoG said it will continue working with relevant state institutions to identify and investigate such operators and take appropriate enforcement action.
“The Bank of Ghana will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities in order to safeguard consumers and uphold the integrity, safety, and stability of the financial sector.”
The latest action forms part of the BoG’s continued efforts to regulate Ghana’s digital lending space. The central bank has previously warned that some entities were providing loans through mobile applications without the necessary regulatory approval.
The BoG had also given existing unlicensed mobile loan applications and digital credit service providers until June 30, 2026, to regularise their operations, warning that failure to comply could result in regulatory action.
The regulator has encouraged consumers to use only digital credit services that have been duly licensed by the Bank of Ghana.
Read below the statement
