The Bank of Ghana has issued a strong caution to mobile lending platforms and digital credit companies that are operating without approval in the country. The regulator has given them up to June 30, 2026, to secure the necessary authorization or risk being forced out of the market.
This directive is part of a broader regulatory overhaul aimed at sanitising the booming digital loan space, which has become a source of consumer complaints due to questionable debt recovery tactics, invasive data harvesting, and exploitative charges.
A public notice from the central bank indicates that the licensing process for Digital Credit Services Providers officially opened on November 3, 2025. Companies offering mobile loans or digital credit are therefore expected to meet set standards and provide full documentation for review.
The Bank of Ghana emphasises that those who ignore the new rules should anticipate penalties that could include suspension of their operations or permanent shutdown.
These upcoming measures form a key pillar of a new framework designed to enhance consumer protection, promote responsible lending, and streamline the rapidly expanding fintech lending ecosystem.
Public concerns over unrestrained online lenders have been rising in recent years, as many continue to function without any regulatory oversight, leaving borrowers exposed to financial and privacy risks. The central bank believes the tightened controls will restore trust and bring order to the sector.
Read BoG’s press release below:
— Bank of Ghana (@thebankofghana) November 4, 2025
