19 unlicensed institutions you don’t have to take loan from- BoG warns Ghanaians

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The public has been warned by the Central Bank of Ghana not to borrow money from 19 unauthorized institutions which have been listed below.

A statement to this effect was shared by BoG which reads; “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 activities of these unauthorized entities amount to non-adherence to consumer protection requirements and abuse of customer data and privacy laws.”

See below for these unlicensed financial institutions;

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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 (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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