The Bank of Ghana (BoG) has cautioned the public against using 20 digital loan applications operating illegally in the country without the required licence or authorisation.
In a public notice dated August 3, 2026, the central bank said it had observed the continued operation of Digital Credit Services Providers (DCSPs) offering loans to Ghanaians through digital platforms in breach of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025, as well as other applicable laws.
According to the Bank, the unlicensed loan 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 Bank of Ghana warned that the activities of these platforms pose significant risks to consumers, particularly in the areas of customer data privacy, consumer protection and compliance with regulatory standards.
It stressed that the operations of the listed applications are unauthorised and urged the public to refrain from engaging with them.
“The Bank reiterates that the operations of these entities constitute significant violations of customer data privacy, consumer protection, and established regulatory standards,” the notice stated.
The central bank further indicated that it will continue to work closely with relevant state institutions to identify, investigate and take enforcement action against unlicensed digital loan providers in order to protect consumers and maintain the integrity and stability of Ghana’s financial sector.
In addition to advising the public, the Bank also directed licensed Banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) not to facilitate or process transactions on behalf of unlicensed digital lenders.
The Bank encouraged members of the public who become aware of the activities of unauthorised loan providers to report them to its Fintech and Innovation Department through its official channels.
The notice, signed by the Secretary of the Bank, Ms. Aimee Vyda Quashie, takes immediate effect and forms part of the Bank’s ongoing efforts to strengthen oversight of Ghana’s growing digital financial services sector and protect consumers from illegal lending practices.
CREDIT: MAVIS FANTEVI