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The Bank of Ghana (BoG) has issued a directive to all unlicensed mobile loan applications and digital credit providers operating in the country to regularise their operations by 30 June 2026 or face regulatory sanctions, including suspension or shutdown.
According to the central bank, it will begin receiving applications from prospective Digital Credit Services Providers from 3 November 2025 under new licensing guidelines aimed at ensuring order, transparency and stronger consumer protection in Ghana’s fast-growing digital lending market.
The move comes amid increasing public concern about the proliferation of unregulated online lenders accused of charging exorbitant interest rates, violating data privacy laws and using unethical means to recover debts.
The BoG warned that any entity that fails to comply with the directive within the stipulated period will face “appropriate regulatory action” as part of broader efforts to enhance oversight and rebuild public confidence in Ghana’s fintech and digital credit ecosystem.
The central bank has therefore urged all existing operators to submit their documentation and regularisation applications to the FinTech and Innovation Office before the June 2026 deadline.
The post BoG gives unlicensed digital lenders till June 2026 to regularise operations appeared first on The Herald ghana.
