Don’t Borrow Money From These Financial Institutions; Bank of Ghana STRONGLY Warns Ghanaians -Checklist.
Ghanaians have been warned by the Central Bank not to borrow money from 19 unauthorized institutions.
On August 22, 2022, it issued a statement that read, “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 BoG claims that the actions of these illegal businesses amount to a violation of consumer protection rules and a violation of laws governing client data and privacy.
The following organizations are among those offering lending services without a license from the Bank of Ghana:
- 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
