BoG warns public against 20 unlicensed mobile loan apps
The affected apps are Cascredit, Cash Future, Cash Cedi, Cashpal, Cashpal Pro, CreditGo, Funds Credit, Glow Credit, Moni Wave and MoniLend. The others are 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 has warned the public not to transact with 20 mobile loan applications operating in the country without licence or authorisation.
The warning was issued in a notice dated Wednesday, September 9, 2026.
According to the central bank, the listed apps are providing digital credit services in breach of Ghana’s regulatory requirements.
BoG said their activities raise concerns about customer data privacy, consumer protection and compliance with the rules governing digital lending.
The affected apps are Cascredit, Cash Future, Cash Cedi, Cashpal, Cashpal Pro, CreditGo, Funds Credit, Glow Credit, Moni Wave and MoniLend.
The others are Nova Cedi, Onua Loan, Quick Cedi, Sika Boost, Sika Credit, Sompa Loan, Sune Credit, Swift Lend, Target Credit and Zoom Advance.
The Bank said the notice forms part of efforts to clean up the digital credit market and protect borrowers from unlicensed operators.
It explained that digital lenders are required to operate under the Directive for Digital Credit Service Providers in Ghana, which was issued in September 2025.
BoG has therefore urged members of the public to verify the regulatory status of any mobile loan provider before using its services.
It also advised customers to avoid apps whose licensing status cannot be confirmed.
The central bank further cautioned banks, Specialised Deposit-Taking Institutions and Payment Service Providers against supporting the operations of unlicensed digital lenders.
It said regulated financial institutions must not facilitate or process transactions for such operators.
BoG said the directive is intended to ensure that digital credit services are provided in a safe, lawful and transparent manner.
It also stressed that the public must be alert to the risks associated with unlicensed loan apps, particularly the misuse of personal data and unfair treatment of customers.
