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The Bank of Ghana (BoG) requires all unlicensed mobile loan apps and digital credit providers to regularize operations by June 30, 2026. Failing to comply may lead to penalties, suspension, or business closure. From November 3, 2025, the central bank will accept applications from organizations seeking to become Digital Credit Services Providers under new regulations. These rules are meant to improve order, transparency, and consumer protection in Ghana’s digital lending sector. This directive is a response to growing concerns about the rise of unregulated online lenders, who have been accused of imposing excessive interest rates, violating data privacy regulations, and engaging in unethical debt collection practices. The BoG has indicated that entities that do not adhere to the specified timeline may face “appropriate regulatory action” as part of a wider initiative to enhance oversight and maintain public confidence in Ghana’s fintech and digital credit landscape. The central bank has called upon all current operators to present the necessary documentation to the FinTech and Innovation Office for approval prior to the June 2026 deadline. Share this: Click to share on Facebook (Opens in new window) Facebook Click to share on X (Opens in new window) Like this:Like Loading...
