The Bank of Ghana named 20 mobile loan applications that it said were operating without the required licence or authorisation. Notice No. 36, dated 6 October, said the activity contravened Ghana’s September 2025 directive for digital credit providers. The regulator advised the public not to use the listed applications. It also warned banks, specialised deposit-taking institutions and payment service providers against facilitating or processing transactions for unlicensed lenders.
The latest list includes Agile Loan, AmanaPay, CashWay, Foutou Credit and HastyCredit, alongside 15 other applications. It follows earlier Bank of Ghana notices identifying unlicensed digital-credit providers. Ghana News Agency and Graphic Online separately reported the new warning and the 20 named applications. The central bank said the operators raised concerns involving customer data privacy, consumer protection and regulatory compliance.
ENFORCEMENT EXTENDS TO PAYMENT CHANNELS
The instruction to regulated financial institutions broadens the practical effect of the notice beyond a public consumer warning. Banks and payment providers may need to identify transactions linked to the named applications and prevent their systems from supporting unlicensed activity. The notice did not specify penalties for regulated firms or describe how transaction screening should be implemented.
The central bank said it would work with other state institutions to identify, investigate and take appropriate enforcement action against unlicensed providers. It asked members of the public to report suspected operators to its Fintech and Innovation Department. The regulator did not say whether any of the 20 applications had submitted licence applications or responded to the findings.
DIGITAL CREDIT LICENSING PRESSURE BUILDS
Ghana opened applications for digital-credit licences from November 2025 and required existing mobile lenders to regularise their operations by 30 June 2026. That framework gave the central bank a specific licensing route for a market that had expanded through mobile applications. The October notice indicates that unauthorised providers remained active after the regularisation deadline.
The immediate issue for regulated banks and payment companies is how they apply the warning without interrupting legitimate customer activity. The next concrete milestones will be enforcement notices, additions or removals from the unlicensed list and any licence decisions involving the named applications. Until then, the Bank of Ghana’s instruction places responsibility on both consumers and regulated intermediaries to avoid the listed providers.