The Bank of Ghana has identified 20 mobile loan applications that are operating without the necessary licenses or authorisation to provide digital credit services in the country. The central bank has warned the public against using these applications. It stated that these apps violate customer data privacy, consumer protection requirements, and other regulatory standards.
The identified applications are as follows: 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.
The Bank of Ghana is collaborating with relevant state institutions to identify and investigate the operators of these unauthorised apps and to take appropriate enforcement action. The central bank encourages the public not to engage with the identified loan providers and to report any unlicensed digital credit operations directly to it.
Additionally, banks, specialised deposit-taking institutions, and payment service providers have been cautioned against facilitating or processing transactions on behalf of unlicensed loan providers. This latest measure is part of the central bank’s efforts to regulate Ghana’s growing digital credit market and protect consumers from unauthorised operators.
According to the Bank of Ghana’s Digital Credit Service Providers directive issued in September 2025, entities offering digital credit services in Ghana are required to obtain the necessary licenses or authorisation. Operating without this approval constitutes a breach of the directive.
