BoG cautions against 97 unlicensed loan providers

The Bank of Ghana says the public should desist from doing business with unlicensed loan providers, as it shares a list of unlicensed entities that are engaged in the provision of loans through mobile applications.

The activities of the entities are in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), and additionally breach customer data and privacy laws; BoG said in a statement dated June 14, 2023.

"Bank of Ghana will continue to take action against these entities in collaboration with relevant state agencies to promote the integrity of financial service delivery. 

The general public is therefore advised to desist from doing business with all unlicensed loan providers. Banks, Specialised Deposit-Taking Institutions and Payment Service Providers are cautioned not to facilitate the illegal transactions of unlicensed loan applications," the statement noted.

The entities named include:

Flash Cash

Accra

GhLending

MoLoan

Rapidcedi

100 Cedi

Cedi Help

Mascedi Consult

Cediboom

CashLoanPro

Aircash

Akwaaba Payment

FourCredy

Ghanalending

AcornCredit

Gana Loan

Mach Loans Ghana

Mbose

Sika Bus

Ultra Loan FundCedi Ghana

Loan App

Mika Cash Loan App

New Loan Ghana

Zip Loan Onloan/WantCAsh

Credit Ghana App

Bloomcash

Home Credit

Akwaaba Cash Agyenkwasika-

Personal loan

Cash Way 

Momo cash loans

Prime Loans

Easy Access Loans 

Cashpal Online Loan 

Happy Loan

Money Loan App 

Plus Loan

Mega Credit

Boeing Cash

Lemon Wallet

Koko Cash

Cola Cash/Cash Cola 

Rapid money

Cash Star

Loan Galaxy

Bitcash

Ukash

Funcash

HelloCedi Sunny Cash/Sunny

Loan

Goldminer 

Enjoy Credit 

Cedi Wallet 

Pro Kash

Cedi Fie 

HelaCash 

Daily Cash 

FiCash 

Sikadua 

PK Loans

Quick Cash

True Cedi

Robin Personal Loan 

Kudi Credit

1 Rapid cedi

Cedistory

Steadycash

Soft kash

Easy Kash

DatesCash

Boseapa

YooCash

Fufucredit

TopCredit

DeriveCash

Eagle Cash

Cash wave

cud loan

smatloan

LoanPapa

CoolCash 

MoLoan 

Rapid Cedi 

cedifie

MOCO

Sikakasa 

Chasteloan 

Joy Cash

Cocoaloan 

Popcash 

Loan hub 

Creditmall 

cedipros 

Momcash 

GETwallet

Keeploan 

CashCocoa