The Bank of Ghana has issued a warning to unlicensed firms that provide loans to Ghanaians through mobile applications.
According to the central bank, this is a violation of the Banks and Specialised Deposit-Taking Institutions Act, 2016. (Act 930).
The Board of Governors stated in a notification that it will continue to take action against these firms in coordination with appropriate state agencies in order 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.
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“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
