The Bank of Ghana has named 20 mobile loan applications that it says are operating without the licence or authorisation it requires, and has warned the public not to use them, according to a notice dated 2 November reported by NorvanReports.
The apps named are 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 central bank said their activities breach the Directive for Digital Credit Service Providers in Ghana, issued in September 2025, and described their operations as "significant violations of customer data privacy, consumer protection, and established regulatory standards".
The warning also covers the firms that move money for lenders. Banks, specialised deposit-taking institutions and payment service providers were cautioned against "facilitating or processing transactions" for unlicensed providers.
The Bank said it is working with the Cyber Security Authority to "sanitise the digital credit space" and will work with other state bodies to identify, investigate and take appropriate action.
The notice does not give the number of customers affected, the loan terms each app offered, or any enforcement action already taken. It asks the public to report unlicensed loan providers to the Bank of Ghana's Fintech and Innovation Department.