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Bank of Ghana Cautions 97 Unlicensed Entities Providing Loans Via Mobile Apps2 min read

Bank of Ghana Cautions 97 Unlicensed Entities Providing Loans Via Mobile Apps<span class="wtr-time-wrap after-title"><span class="wtr-time-number">2</span> min read</span>

The Bank of Ghana (BoG) today warned unlicensed entities that are engaged in the provision of loans through mobile applications to the Ghanaian public.

According to a notice issued by the central bank, this unlawful practice is in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

It said it would continue to take action against these entities in collaboration with relevant state agencies to promote the integrity of financial service delivery.

“The general public is therefore advised to desist from doing business with all unlicensed loan providers. Banks, Specialised Deposit-Taking Institutions and Payment Service Providers are cautioned not to facilitate the illegal transactions of unlicensed loan applications.

“The Bank reiterates that the activities of these entities significantly breach customer data and privacy laws, as well as consumer protection requirements and norms, with unfavourable implications on the integrity and wellbeing of their patrons,” the notice pointed out.

The BoG also encouraged the public to patronise the various types of digital credit products approved by Bank of Ghana and delivered by banks and specialised deposit-taking institutions in partnership with mobile money operators.

“The general public is advised to consult the Bank’s website using the link below for the approved list of licensed institutions, before transacting any business with an institution,” it stated.

Below is a list of loan  applications offered on the market without a licence or authorisation from Bank of Ghana.

  1. Flash Cash

  2. Accra

  3. GhLending

  4. MoLoan

  5. Rapidcedi

  6. 100 Cedi

  7. Cedi Help

  8. Mascedi Consult

  9. Cediboom

  10. CashLoanPro

  11. Aircash

  12. Akwaaba Payment

  13. FourCredy

  14. Ghanalending

  15. AcornCredit

  16. Gana Loan

  17. Mach Loans Ghana

  18. Mbose

  19. Sika Bus

  20. Ultra Loan FundCedi Ghana

  21. Loan App

  22. Mika Cash Loan App

  23. New Loan Ghana

  24. Zip Loan Onloan/WantCAsh

  25. Credit Ghana App

  26. Bloomcash

  27. Home Credit

  28. Akwaaba Cash Agyenkwasika-

  29. Personal loan

  30. Cash Way

  31. Momo cash loans

  32. Prime Loans

  33. Easy Access Loans

  34. Cashpal Online Loan

  35. Happy Loan

  36. Money Loan App

  37. Plus Loan

  38. Mega Credit

  39. Boeing Cash

  40. Lemon Wallet

  41. Koko Cash

  42. Cola Cash/Cash Cola

  43. Rapid money

  44. Cash Star

  45. Loan Galaxy

  46. Bitcash

  47. Ukash

  48. Funcash

  49. HelloCedi Sunny Cash/Sunny

  50. Loan

  51. Goldminer

  52. Enjoy Credit

  53. Cedi Wallet

  54. Pro Kash

  55. Cedi Fie

  56. HelaCash

  57. Daily Cash

  58. FiCash

  59. Sikadua

  60. PK Loans

  61. Quick Cash

  62. True Cedi

  63. Robin Personal Loan

  64. Kudi Credit

  65. 1 Rapid cedi

  66. Cedistory

  67. Steadycash

  68. Soft kash

  69. Easy Kash

  70. DatesCash

  71. Boseapa

  72. YooCash

  73. Fufucredit

  74. TopCredit

  75. DeriveCash

  76. Eagle Cash

  77. Cash wave

  78. cud loan

  79. smatloan

  80. LoanPapa

  81. CoolCash

  82. MoLoan

  83. Rapid Cedi

  84. cedifie

  85. MOCO

  86. Sikakasa

  87. Chasteloan

  88. Joy Cash

  89. Cocoaloan

  90. Popcash

  91. Loan hub

  92. Creditmall

  93. cedipros

  94. Momcash

  95. GETwallet

  96. Keeploan

  97. CashCocoa

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