The Bank of Ghana (BoG) has announced that the deadline for all unlicensed mobile loan applications and Digital Credit Services Providers to regularise their operations has officially elapsed, signalling possible regulatory action against non-compliant entities.
In a public notice issued on July 20, 2026, the central bank reminded the public that the June 30, 2026, deadline it set in a previous directive—Notice No. BG-GOV-SEC-2025-35—had passed.
The BoG warned that "all entities that have not complied with the said Notice may be subject to regulatory action in accordance with applicable laws and regulations".
The bank advised the public to "exercise caution in their dealings with digital credit providers and to ensure that they engage only with entities duly licensed by the Bank of Ghana".
The bank also announced that it will, in due course, publish and maintain an updated list of licensed Digital Credit Services Providers on its website. To support public awareness, the central bank has published detailed Frequently Asked Questions (FAQs) on its website, providing guidance on licensing requirements, how to verify licensed providers, and the implications for non-compliant operators and their customers.
The directive follows growing concerns over the activities of unregulated digital lenders, including predatory lending practices, excessive interest rates, data privacy violations, and aggressive debt recovery methods.
The Bank of Ghana formally designated credit services as a non-bank financial service in August 2025, bringing the sector under its regulatory purview and requiring all operators to obtain a licence as Digital Credit Services Providers.