The Bank of Ghana (BoG) has cautioned the public against doing business with some 19 unlicensed loan firms.
A statement issued by the BoG on Monday (22 August) said the entities are operating illegally.
“Bank of Ghana has observed that a number of unlicensed entities are engaged in the provision of loans to the Ghanaian public, in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930). These illegal entities mostly employ the use of mobile applications and social media in their activities,” the statement said.
“Bank of Ghana is taking steps to take action against these entities and hereby advises the general public to desist from doing business with all unlicensed loan providers. Banks and Specialised Deposit-Taking Institutions as well as payment service providers are advised not to facilitate the illegal transactions of the unlicensed loan providers.
“The general public is further advised to visit Bank of Ghana’s website for the approved list of licensed institutions at (https://www.bog.gov.gh/supervisionregulation/all institutions/),” the BoG statement said.
Below are the unlicensed firms:
- SikaPurse Quick Online loan
- 4Cedi Instant Mobile loan application
- Zidisha Online Loans
- GhanaLending Application
- ChasteLoan Application
- LoanClub-Ghana Instant Loan
- AdamfoPa Loan
- MetaLending- Instant Cash Loan
- Wohiasika Loan (Ghanaloan.net)
- Boseafie – Bosea Micro-Credit
- SikaKasa Online Lending
- LoanPro – digital and instant loan
- SikaWura Loan Application
- BegyeBosea Loan
- LendingPapa – Online Loans
- CrestCash Loan
- Credxter – Loans and Hire- Purchase
- MobiLoan Application
- Cedi Now – Cash Loans Application
