The Bank of Ghana (BoG) has cautioned consumers against using 20 mobile loan applications it says are providing digital credit services without the required regulatory approval.
In a notice issued on November 2, the central bank said the operators had not obtained the licence or authorisation required to offer digital lending services in Ghana. Their activities, it noted, violate the Directive for Digital Credit Service Providers introduced in September 2025.
The applications named in the latest notice are Active Loan, Boafo Cash, Cediln, Fair Moni, Fast Loan, Halo Loan, Jmoney, Kredi, KudiNow, LendJet, MeCedi, NhyiraCash, Palcash, Quick Eazzy, SikaFlow, SikaNea, Swift Lending, TrustCredit GH, Velzo and Zedvance.
The regulator warned that dealing with unauthorised digital lenders could expose customers to risks involving personal information, consumer protection and compliance with financial regulations.
It also reminded banks, specialised deposit-taking institutions and payment service providers not to facilitate or process transactions for the identified operators.
The central bank said it was working with the Cyber Security Authority and other relevant institutions to address unauthorised digital lending and strengthen oversight of the market.
Consumers have been advised to verify the regulatory status of digital credit providers before applying for loans and to avoid engaging with operators that lack the necessary approval.
The BoG further encouraged the public to report information about unlicensed lending activities to the central bank, as it continues efforts to protect borrowers and maintain confidence in Ghana’s financial system.
