Bank of Ghana Names 20 Unlicensed Digital Loan Apps in Ghana, Warns Public Against Using Them

• The Bank of Ghana published a public notice on August 3, 2026, identifying 20 mobile loan apps operating without its authorisation
• The central bank said the unlicensed apps violate consumer data privacy and protection standards set out in a September 2025 directive
• Banks and payment service providers have also been warned against processing transactions on behalf of the listed operators

The Bank of Ghana has publicly identified 20 mobile lending applications operating without regulatory authorisation and issued a formal caution to the public against using them.

The notice, signed by Bank Secretary Ms Aimee Vyda Quashie and released on Monday, August 3, 2026

It stated that the central bank had observed entities continuing to offer digital credit services without the required licences, in breach of the Directive for Digital Credit Service Providers in Ghana published in September 2025.

The 20 loan apps named by the BoG

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The following applications were listed as unlicensed:

1. Adamfo Loan
2. Agyapacredit
3. Amanfi Loan
4. Arco Cash
5. Aya Lend
6. Bucks Now
7. CediGo
8. CGrab
9. DumboCash,
10. FCash
11. Gh Loans
12. Gh Loans Pro
13. Hasty Credit
14. Newgry Money Tree
15. Omanpesa
16. PoPoCedi
17. Ready Money
18. Sika Tap
19. Sikapa Loan
20. Zigwe Loan

The Bank said their activities represent serious breaches of customer data privacy, consumer protection obligations, and established financial regulatory standards.

"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.

How to report fraudulent loan apps

Beyond the public warning, the Bank of Ghana said it intends to work alongside relevant state institutions to identify, investigate, and pursue enforcement action against the operators of these unlicensed platforms.

Banks, Specialised Deposit-Taking Institutions, and Payment Service Providers have also been put on notice, with the central bank cautioning them against facilitating or processing any transactions on behalf of the listed apps.

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Members of the public have been strongly advised to avoid all engagement with the 20 named applications.

Anyone with information about their activities is encouraged to contact the Bank of Ghana's Fintech and Innovation Department at The Bank Square, 42 Castle Road, Ridge, Accra, by telephone on +233 30 273 9650, or by email at fintech@bog.gov.gh or digitalcredit@bog.gov.gh.

Read the BoG statement on Facebook below:

BoG warns Ghanaians against rejecting cedi coins

Meanwhile, YEN.com.gh reported that the Bank of Ghana had issued a warning to traders, transport operators and businesses that had been rejecting Ghana cedi coins as payment.

The central bank said all coins it had issued remained legal tender and that refusing to accept them was an offence under the Currency Act, 1964.

It added that business owners who instructed their employees to reject approved coins could also face penalties under the law.

Source: YEN.com.gh