The Bank of Ghana (BoG), in collaboration with the Cyber Security Authority, has stepped up efforts to sanitise the digital credit space and protect the public from entities providing digital credit services without the requisite licence or authorisation.
A statement from the BoG issued on November 2, 2026 said: “Such activities are conducted in contravention of the Directive for Digital Credit Service Providers in Ghana (September 2025)”.
The BoG reiterated that the operations of the entities constitute significant violations of customer data privacy, consumer protection, and established regulatory standards.
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“The Bank of Ghana will continue to collaborate with relevant state institutions to identify, investigate, and take appropriate enforcement action against such entities to safeguard consumers and uphold the integrity and stability of the financial sector”.
The BoG strongly advised the public not to engage with unlicensed loan providers.
“Banks, Specialised Deposit-Taking Institutions (SDIs), and Payment Service Providers (PSPs) are also cautioned against facilitating or processing transactions on behalf of unlicensed loan providers”, the statement said.
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