The Central Bank said the entities are not licensed thus customers who transact any form of business with them do so at their own peril.
In an August 22, 2022, statement sighted by GhanaWeb, the Bank noted that these “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).”
The statement further mentioned that these illegal entities mostly employ the use of mobile applications and social media in their activities.
“The activities of these unauthorized entities amount to non-adherence of the
consumer protection requirements and abuse of customer data and privacy
laws,” it added.
It is however not clear if there are other entities, but the Bank of Ghana list these 19 financial entities among entities providing loan services without a license from the Central Bank.
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4.GhanaLending Application
5.ChasteLoan Application
6.LoanClub-Ghana Instant Loan
7.AdamfoPa Loan
8.MetaLending- Instant Cash Loan
9. Wohiasika Loan (Ghanaloan.net)
10.Boseafie – Bosea Micro-Credit
11.SikaKasa Online Lending
12.LoanPro – digital and instant loan
13.SikaWura Loan Application
14.BegyeBosea Loan
15.LendingPapa – Online Loans
16.CrestCash Loan
17.Credxter – Loans and Hire- Purchase
18.MobiLoan Application
19.Cedi Now – Cash Loans Application
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