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The Bank of Ghana (BoG) has warned all unlicensed mobile loan apps and digital credit providers operating in the country to regularise their operations by June 30, 2026. The central bank stated that failure by these mobile loan apps and digital credit providers to comply with the directive will trigger enforcement actions, including suspension or complete shutdown of their platforms. The move forms part of a broader effort to clean up Ghana’s fast-growing digital lending space, which has come under scrutiny for predatory practices such as data privacy violations and excessive interest rates, among others. In a public notice sighted by GhanaWeb Business, the central bank announced that it will begin accepting applications from entities seeking to operate as Digital Credit Services Providers starting November 3, 2025. IMF urges BoG to sustain tight monetary policy amid rate cuts “Effective November 3, 2025, the Bank of Ghana will commence accepting applications from entities seeking to operate as Digital Credit Services Providers,” part of the statement read. “All existing mobile loan applications and digital credit providers currently operating without a license are hereby notified to regularise their operations with the Bank. Entities must submit the required documentation and meet licensing criteria by June 30, 2026,” it added. The new licensing framework aims to promote transparency, protect consumers, and ensure orderly conduct in the sector. This regulatory push comes amid rising public concern over the unchecked proliferation of online lenders, many of which operate outside the bounds of financial regulation, leaving consumers vulnerable to exploitation. Read BoG’s press release below: — Bank of Ghana (@thebankofghana) November 4, 2025
