See BoG’s list of 97 unlicensed entities providing loans through mobile apps

The Bank of Ghana has cautioned unlicensed entities that are engaged in the provision of loans through mobile applications to the Ghanaian public.

The central bank said this was in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

In a notice, the BoG said it would continue to take action against these entities in collaboration with relevant state agencies 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.

“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.

Flash Cash
Accra
GhLending
MoLoan
Rapidcedi
100 Cedi
Cedi Help
Mascedi Consult
Cediboom
CashLoanPro
Aircash
Akwaaba Payment
FourCredy
Ghanalending
AcornCredit
Gana Loan
Mach Loans Ghana
Mbose
Sika Bus
Ultra Loan FundCedi Ghana
Loan App
Mika Cash Loan App
New Loan Ghana
Zip Loan Onloan/WantCAsh
Credit Ghana App
Bloomcash
Home Credit
Akwaaba Cash Agyenkwasika-
Personal loan
Cash Way
Momo cash loans
Prime Loans
Easy Access Loans
Cashpal Online Loan
Happy Loan
Money Loan App
Plus Loan
Mega Credit
Boeing Cash
Lemon Wallet
Koko Cash
Cola Cash/Cash Cola
Rapid money
Cash Star
Loan Galaxy
Bitcash
Ukash
Funcash
HelloCedi Sunny Cash/Sunny
Loan
Goldminer
Enjoy Credit
Cedi Wallet
Pro Kash
Cedi Fie
HelaCash
Daily Cash
FiCash
Sikadua
PK Loans
Quick Cash
True Cedi
Robin Personal Loan
Kudi Credit
1 Rapid cedi
Cedistory
Steadycash
Soft kash
Easy Kash
DatesCash
Boseapa
YooCash
Fufucredit
TopCredit
DeriveCash
Eagle Cash
Cash wave
cud loan
smatloan
LoanPapa
CoolCash
MoLoan
Rapid Cedi
cedifie
MOCO
Sikakasa
Chasteloan
Joy Cash
Cocoaloan
Popcash
Loan hub
Creditmall
cedipros
Momcash
GETwallet
Keeploan
CashCocoa

source: graphiconline