The Bank of Ghana (BoG) has issued a strong warning to the public against engaging with 20 unlicensed digital credit service providers, naming the specific mobile loan applications operating without the requisite licence or authorisation.
In a notice signed by the Secretary of the Bank, Aimeve Vyda Quashie, the central bank stated that its collaboration with the Cyber Security Authority continues to sanitise the digital credit space and protect the public. The Bank identified the unlicensed applications as Active Loan, Boafo Cash, Cediln, Fair Moni, Fast Loan, Halo Loan, Jmoney, Kredi, KudiNow, LendJet, MeCedi, NhyiraCash, Palcash, Quick Eazzy, SikaFlow, SikaNea, Swift Lending, TrustCredit GH, Velzo, and Zedvance.
The Bank emphasised that the operations of these entities constitute significant violations of customer data privacy, consumer protection, and established regulatory standards, contravening the Directive for Digital Credit Service Providers in Ghana issued in September 2025.
To safeguard consumers and uphold the integrity of the financial sector, the Bank of Ghana warned that it will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities.
It strongly advised the general public not to engage with unlicensed loan providers, while cautioning Banks, Specialised Deposit-Taking Institutions, and Payment Service Providers against facilitating or processing transactions on behalf of these unlicensed entities.
Members of the public who become aware of the activities of unlicensed loan providers are encouraged to report them to the Bank of Ghana's Head of Fintech and Innovation Department at the Bank Square, Ridge, Accra, via telephone or text on 292, or through email at