Ghana news briefing
BoG names 20 unlicensed digital loan providers
The Central Bank strongly advised members of the public not to engage with unlicensed loan providers and urged prospective borrowers to verify the regulatory status of digital credit service providers before accessing their services.
The latest publication follows an earlier notice on unlicensed Digital Credit Service Providers and reflects the Bank’s intensified efforts to strengthen oversight of the rapidly growing digital lending market in Ghana.
In a notice issued to licensed financial institutions and the public, the Central Bank named the affected mobile loan applications as Cascredit, Cash Future, Cash Cedi, Cashpal, Cashpal Pro, CreditGo, Funds Credit, Glow Credit, Moni Wave, and MoniLend.
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