Bank of Ghana Flags 20 Unlicensed Loan Apps, Names SikaFlow, NhyiraCash and Zedvance

The Bank of Ghana (BoG) has identified 20 mobile loan applications operating without the required regulatory licence or authorisation and warned the public against using their services.

In a notice issued on November 2, 2026, the Central Bank said the identified digital lending platforms were operating in violation of its Directive for Digital Credit Service Providers in Ghana, introduced in September 2025.

Among the 20 applications named are SikaFlow, NhyiraCash and Zedvance, alongside Active Loan, Boafo Cash, Cediln, Fair Moni, Fast Loan, Halo Loan, Jmoney, Kredi, KudiNow, LendJet, MeCedi, Palcash, Quick Eazzy, SikaNea, Swift Lending, TrustCredit GH and Velzo.

The Bank expressed concern about the activities of these unlicensed operators, particularly the potential risks they pose to customers’ personal data, consumer protection and compliance with established financial regulations.

The Central Bank has also cautioned banks, Specialised Deposit-Taking Institutions (SDIs) and Payment Service Providers (PSPs) against facilitating or processing transactions on behalf of the identified loan applications.

The warning is intended to prevent regulated financial institutions from providing payment channels or other financial services that could support the operations of unauthorised digital lenders.

The BoG further disclosed that it was collaborating with the Cyber Security Authority to sanitise Ghana’s digital lending market and protect consumers from operators conducting business outside the approved regulatory framework.

It added that investigations into unlicensed digital credit providers would continue, with appropriate enforcement measures to be pursued against those found operating without the necessary authorisation.

The public has consequently been advised to avoid dealing with the listed applications and report any information about their activities to the Central Bank.

The latest intervention forms part of efforts to strengthen oversight of Ghana’s rapidly expanding digital lending industry, protect borrowers and ensure that financial service providers comply with regulatory requirements.

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