The Bank of Ghana has named 20 mobile loan applications that it says are operating without the licence or authorisation required to provide digital credit in Ghana.
The apps are 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.
In a notice dated 8 September, the central bank said their activities contravene its September 2025 Directive for Digital Credit Service Providers. It said the operations constitute significant violations of customer data privacy, consumer protection and established regulatory standards.
The Bank advised the public not to engage with unlicensed loan providers. It also cautioned banks, Specialised Deposit-Taking Institutions and Payment Service Providers against facilitating or processing transactions on behalf of unlicensed lenders.
The notice is a follow-up to an earlier Bank of Ghana warning on unlicensed digital credit providers. The Bank said it would continue working with relevant state institutions to identify, investigate and take enforcement action against unlicensed operators.
People who become aware of unlicensed digital lending activity can report it to the Bank of Ghana’s Fintech and Innovation Department, according to the notice.