The Bank of Ghana (BoG) has ordered all unlicensed mobile loan apps and digital credit providers operating in the country to regularize their activities by June 30, 2026, or risk sanctions such as suspension or closure.
Starting November 3, 2025, the central bank will begin accepting applications from companies seeking to operate as Digital Credit Service Providers under newly introduced licensing guidelines aimed at ensuring transparency, consumer protection, and proper regulation within Ghana’s digital lending sector.
This directive comes amid rising concerns about the growing number of unregulated online lenders accused of imposing excessive interest rates, violating data privacy laws, and using unethical debt recovery methods.
The BoG warned that any entity that fails to comply with the new requirements within the given timeframe will face “appropriate regulatory action”.
The move, the bank noted, forms part of broader efforts to strengthen supervision and restore public confidence in Ghana’s fintech and digital credit landscape.
The central bank also urged all current operators to submit the necessary documents to the FinTech and Innovation Office for approval ahead of the June 2026 deadline.