BoG cautions public against 20 unlicensed mobile loan apps

It urged the public to use only financial institutions and digital credit providers licensed and approved by the central bank.

The digital lenders are offering credit services without the required licence or authorisation from the central bank, the BoG said.

In a notice, the Bank said the operations of the unlicensed providers contravened the Directive for Digital Credit Service Providers in Ghana and posed risks to users.