Got a loan app on your phone? Check it against the BoG’s list of 20 unlicensed lenders
Before you borrow again, the central bank says these digital lenders have no licence to operate in Ghana.
Anyone who has borrowed through a mobile app, or is thinking of doing so, should check whether the lender is on a new list from the Bank of Ghana (BoG). In a notice dated November 2, the central bank named 20 loan applications it says are operating without the licence or authorisation required by law.
The BoG said the apps are in breach of its Directive for Digital Credit Service Providers in Ghana, which took effect in September 2025. It is asking the public not to use their services.
The apps on the list
- 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
- Zedvance
Why the regulator is concerned
The central bank said the conduct of these providers raises questions about the privacy of customers’ data, the protection of consumers and compliance with regulatory standards. Borrowers who deal with unlicensed lenders may have little access to consumer protection mechanisms if something goes wrong, and their personal information may be handled with fewer safeguards.
To tackle the problem, the BoG says it is working with the Cyber Security Authority to clean up the digital credit market.
Banks and payment firms put on notice
The warning is not aimed at borrowers alone. The BoG has also cautioned banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) against facilitating or processing transactions for the unlicensed lenders. Under the directive, regulated institutions are responsible for making sure their platforms are not used to support unauthorised digital lending.
What happens next
The central bank says it will work with other state institutions to identify and investigate such providers and take appropriate enforcement action. Members of the public with information about the activities of unlicensed lenders are encouraged to report it to the BoG.
The notice comes as mobile lending, which lets consumers get loans through an app, continues to grow quickly. The BoG’s latest action is part of its effort to strengthen oversight of the sector and make sure digital lenders comply with the country’s financial regulations.
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