The Bank of Ghana (BoG) has identified 20 mobile loan applications operating without the required licence or authorisation and warned the public against using their services.
The central bank said the operators were acting in violation of the Directive for Digital Credit Service Providers in Ghana, issued in September 2025.
The flagged 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
- Zoom Advance
According to the BoG, the entities are operating without the requisite regulatory approval to provide digital credit services in Ghana.
The Bank said their operations constitute significant violations of customer data privacy, consumer protection and established regulatory standards.
It has therefore advised the public not to engage with the unlicensed loan providers.
The BoG also cautioned banks, specialised deposit-taking institutions and payment service providers against facilitating or processing transactions on behalf of the unlicensed operators.
The warning forms part of the central bank’s ongoing efforts to sanitise Ghana’s digital credit space and protect consumers from entities providing digital loans without the necessary regulatory authorisation.
The Bank said it would continue working with relevant state institutions to identify, investigate and take appropriate enforcement action against unlicensed digital credit providers.
Members of the public who become aware of the activities of unlicensed loan providers have been encouraged to report them to the BoG’s Fintech and Innovation Department.