The Bank of Ghana (BoG) has flagged 20 mobile loan applications for operating without the requisite licence or authorisation to provide digital credit services in Ghana.
The affected 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 and Zoom Advance.
In a statement, the central bank said the operations of the affected entities violate customer data privacy, consumer protection requirements and other established regulatory standards.
The Bank of Ghana said it is working with relevant state institutions to identify and investigate the operators and take appropriate enforcement action against them.
It has consequently cautioned the public against engaging with the identified applications and urged consumers to report unlicensed digital credit operations to the central bank.
“The Bank of Ghana will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities in order to safeguard consumers and uphold the integrity, safety, and stability of the financial sector.
“The general public is therefore strongly advised not to engage with unlicensed loan providers. Banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) are also cautioned against facilitating or processing transactions on behalf of unlicensed loan providers. Members of the public who become aware of the activities of unlicensed loan providers are encouraged to report them to the Bank of Ghana,” part of the statement read.
The latest action forms part of the central bank’s efforts to sanitise Ghana’s digital credit market and protect consumers from unlicensed operators.
Under the Bank of Ghana’s Directive on Digital Credit Services, issued in September 2025, entities providing digital credit services in Ghana are required to obtain the necessary licence or authorisation.
The central bank said operating without the requisite approval constitutes a violation of the directive.
