Bank of Ghana names 20 illegal loan apps operating in Ghana; see the full list

The Bank of Ghana (BoG) has released a fresh list of 20 mobile loan applications operating illegally in Ghana without the required licence or regulatory authorisation, warning the public to avoid using the platforms.

In a notice dated August 3, 2026 (BG/GOV/SEC/2026/25), the central bank said it continues to identify digital lending platforms offering loans to Ghanaians through mobile applications and other digital channels despite lacking approval to operate.

The latest directive follows an earlier warning issued under Notice No. BG/GOV/SEC/2026/22, indicating that several unlicensed digital credit providers have continued to operate in violation of Ghana's financial regulations.

Full List of Illegal Loan Apps in Ghana

According to the notice signed by Aimee Vyda Quashie, Secretary to the Bank of Ghana, the following mobile loan applications are operating without a licence or authorisation:

• Adamfo Loan

• Agyapacredit

• Amanfi Loan

• Arco Cash

• Aya Lend

• Bucks Now

• CediGo

• CGrab

• DumboCash

• FCash

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• GHI Loans

• Gh Loans Pro

• Hasty Credit

• Newgry Money Tree

• Omanpesa

• PoPoCedi

• Ready Money

• Sika Tap

• Sikapa Loan

• Zigwe Loan

Bank of Ghana Raises Data Privacy and Consumer Protection Concerns

The central bank warned that the activities of these unlicensed digital lenders pose serious risks to consumers, including violations of data privacy, consumer protection laws and financial sector regulations.

According to the BoG, many illegal loan apps collect excessive personal information from users and may misuse borrowers' contacts, messages and other private data during debt recovery processes.

Governor Dr Johnson Asiama said the Bank will continue working with relevant state institutions to identify, investigate and take enforcement action against unauthorised digital lenders in order to safeguard consumers and maintain confidence in Ghana's financial system.

Banks and Payment Service Providers Warned

The Bank of Ghana also directed banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) not to facilitate or process transactions for unlicensed loan providers.

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The regulator warned that financial institutions found supporting illegal lending platforms could face regulatory scrutiny and appropriate sanctions.

How Consumers Can Protect Themselves

As digital lending becomes increasingly popular across Ghana, the Bank of Ghana is urging borrowers to exercise caution before using any mobile loan application.

Consumers are advised to:

• Verify that a lender is licensed by the Bank of Ghana before downloading its app.

• Avoid loan apps requesting unnecessary access to contacts, photos, messages and call logs.

• Carefully review interest rates, repayment periods and all loan terms before accepting any offer.

• Stay away from platforms that conceal charges or pressure users into borrowing without clear conditions.

• Keep records of all communications if dealing with an unlicensed lender and report the matter to the Bank of Ghana.

How to Report Illegal Loan Apps

The Bank of Ghana is encouraging the public to report suspected unlicensed digital lenders to its Fintech and Innovation Department through the following channels:

• Telephone: +233 30 273 9650

• Email: fintech@bog.gov.gh or digitalcredit@bog.gov.gh

• Office: Fintech and Innovation Department, The Bank Square, 42 Castle Road, Ridge, Accra

Members of the public can also visit the Bank of Ghana's official website for additional information on licensed financial institutions and consumer protection.