The Bank of Ghana has officially placed digital credit services under the non-bank financial services category, moving to tighten regulation of the fast-expanding sector.
In a notice issued on Friday, 29 August 2025, the central bank said digital credit now falls within the First Schedule of the Non-Bank Financial Institutions Act, 2008 (Act 774).
“This Notice does not confer automatic authorisation or licence to provide digital credit services on all entities which currently provide services and operate under the First Schedule of Act 774,” the Bank stated. It added that a directive spelling out licensing requirements will be released soon.
Governor Johnson Pandit Asiama, who has made financial inclusion and innovation central to his mandate since assuming office earlier this year, said a digital strategy was essential to modernise the Bank’s operations and meet stakeholders’ needs.
He reaffirmed the Bank’s commitment to support initiatives that expand financial services to underserved communities through fintech and mobile banking. Asiama also pledged collaboration with banks, startups, and international partners to strengthen the digital finance ecosystem, facilitate secure transactions, and enable faster cross-border payments.
The Bank indicated that a clear regulatory framework for digital assets will also be developed to promote safe financial innovation.
The formal recognition of digital credit services marks a major step in addressing risks posed by unregulated operators while boosting transparency and consumer confidence in the sector.
With many individuals and small businesses still struggling to access affordable credit, the Bank of Ghana said the move is part of efforts to strengthen oversight, improve reporting, and ensure fair lending practices.
It urged stakeholders to take note of the new classification and prepare for forthcoming directives on licensing and operations.
