BY Grace Zigah
The Bank of Ghana (BoG) has issued a warning to mobile loan applications and digital credit service providers operating without a license to regularize their status or face sanctions.
In a notice issued on November 3, 2025, the central bank stated that all unlicensed entities must submit the necessary documentation and meet licensing requirements by June 30, 2026.
The BoG’s directive is part of its efforts to regulate the digital lending industry and protect consumers from unscrupulous lenders.
The central bank has been working to create a framework for digital credit services, and this move is a step towards ensuring that all players in the industry operate within the bounds of the law.
The BoG has announced that it will take regulatory action against non-compliant entities that fail to meet the licensing requirements.
This move is expected to promote a safe and secure digital lending environment in Ghana.
Licensing Process
The BoG has begun accepting applications from entities seeking to operate as Digital Credit Services Providers.
This is a significant step towards regulating the industry and ensuring that all players meet the necessary requirements.
