Bank of Ghana flags 20 unlicensed loan apps, warns public to stay away
The Bank of Ghana has warned the general public against engaging with 20 digital loan providers operating in Ghana without a license or authorization. [BoG]
In a public notice signed by the Secretary of the Bank, Ms. Aimee Vyda Quashie, and dated 3rd August, 2026, BoG said the entities are violating the Directive for Digital Credit Service Providers in Ghana, September 2025, as well as other relevant laws.
The 20 unlicensed loan apps named by BoG are:
Adamfo Loan, Agyapacredit, Amanfi loan, Arco Cash, Aya lend, Bucks Now, CediGo, CGrab, DumboCash, FCash, Gh Loans, Gh Loans pro, Hasty Credit, Newgry Money Tree, Omanpesa, PoPoCedi, Ready Money, Sika Tap, Sikapa Loan, and Zigwe Loan.
According to the Central Bank, the operations of these entities “constitute significant violations of customer data privacy, consumer protection, and established regulatory standards.”
BoG’s directives:
- The general public is strongly advised not to engage with unlicensed loan providers.
- Banks, Specialised Deposit-Taking Institutions, and Payment Service Providers are cautioned against facilitating or processing transactions on behalf of unlicensed loan providers.
- Members of the public who are aware of such activities should report to BoG’s Fintech and Innovation Department at Bank Square, 42 Castle Road, Ridge, Accra. Tel: +233 30 273 9650 Email: [email protected] / [email protected] Website: www.bog.gov.gh[SDIs][PSPs]
The notice is a follow-up to an earlier warning, NOTICE NO.BG/GOV/SEC/2026/22, issued by the Bank on the same issue.
BoG says it will continue to collaborate with relevant state institutions to identify, investigate, and take enforcement action against such entities to safeguard consumers and uphold the integrity and stability of the financial sector.
Read the full statement below:
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