The Bank of Ghana (BoG) has warned the public against engaging in any form of transaction with 97 unlicensed entities that provide loans to the public via mobile applications.
The BoG also warned the administrators of these platforms to cease their illegal activities or face prosecution following an investigation.
It reaffirmed that the activities of the 97 entities violate customer data and privacy laws, as well as consumer protection requirements and standards, with negative consequences for the integrity and well-being of their customers.
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The Central Bank in a statement issued on Wednesday warned, “Banks, Specialised Deposit-Taking Institutions and Payment Service Providers are cautioned not to facilitate the illegal transactions of unlicensed loan applications. The general public is encouraged to patronise the various types of digital credit products approved by Bank of Ghana and delivered by banks and specialised deposit-taking institutions in partnership with mobile money operators.” .
The Bank of Ghana reiterated that the activities of these entities significantly breach customer data and privacy laws as well as consumer protection requirements and norms with unfavorable implications on the integrity and wellbeing of their patrons.
It urged the general public to desist from doing business with all unlicensed loan providers.
Below is the list of some of the Loan Apps
Ghana | Atinkaonline.com
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