The Bank of Ghana has identified 20 mobile loan applications operating without proper licensing to provide digital credit services. The list was released as part of the central bank’s efforts to protect consumers from financial fraud.
The apps were flagged for operating without the required authorisation from the Bank of Ghana. This includes apps that offer short-term loans, instant credit, and other financial services without regulatory oversight. The central bank has urged users to avoid these apps to prevent financial loss.
This action follows previous warnings from the Bank of Ghana about the risks of unregulated financial services. In 2023, the bank launched a campaign to increase awareness about the dangers of unlicensed lending platforms. The latest list is part of ongoing efforts to strengthen financial regulation in the country.
