Bank Of Ghana (BOG) Warns All Ghanaians’ Not To Take Loan From The Following Institutions

The Central Bank has cautioned Ghanaians against taking loans from some 19 unlicensed institutions.

In a statement on August 22, 2022, it said, “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.”

According to BoG, the activities of these unauthorized entities amount to non-adherence to consumer protection requirements and abuse of customer data and privacy laws.

Among the entities providing loan services without a license from the Bank of Ghana include the following:

  1. SikaPurse Quick Online loan

  2. 4Cedi Instant Mobile loan application

  3. Zidisha Online Loans

  4. GhanaLending Application

  5. ChasteLoan Application

  6. LoanClub-Ghana Instant Loan

  7. AdamfoPa Loan

  8. MetaLending- Instant Cash Loan

  9. Wohiasika Loan (

  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

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. 




BRIGHT FRANCIS ADOM is an ICT teacher at Ghana Education Service, Entrepreneur, Hard Working and I believe in giving out Accurate information to help others

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