Bank of Ghana Blacklists 97 Online Loan Apps
BoG Blacklists 97 Online Loan Apps
Further to Bank of Ghana notice number BG/GOV/SEC/2022/10 on Unlicensed Entities Engaged in Lending, the Bank has observed the persistent operation of unlicensed entities that are engaged in the provision of loans through mobile applications to the Ghanaian public, in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).
Some of the loan applications offered on the market without a license or authorization
from the Bank of Ghana are:
List of Loan Apps
1. Flash Cash
2. Accra
3. Cash Way
4. AcornCredit
5. Agyenkwasika Personal Loan
6. Aircash
7. Akwaaba Cash
8. Akwaaba Payment
9. Bitcash
10. Bloomcash
11. Boeing Cash
12. Boseapa
13. CashCocoa
14. CashLoanPro
15. Cashpal Online Loan
16. Cash Star
17. Cash Wave
18. 100Cedi
19. Cediboom
20. cedifie
21. Cedi Fie
22. Cedi Help
23. cedipros
24. Cedistory
25. Cedi Wallet
26. ChasteLoan
27. Cocoaloan
28. Cola Cash/Cash Cola
29. CoolCash
30. Creditmall
31. cud loan
32. Daily Cash
33. DatesCash
34. DeriveCash
35. Eagle Cash
36. Easy Access Loans
37. Easy Kash
38. Enjoy Credit
39. FiCash
40. Rapid cedi
41. Fourcredy
42. Fufucredit
43. Funcash
44. FundCedi Ghana Loan App
45. Gana Loan
46. GETwallet
47. Ghanalending
48. GhLending
49. Goldminer
50. Happy Loan
51. HelaCash
52. Hello Cedi
53. Home Credit
54. Keeploan
55. Joy Cash
56. Koko Cash
57. Kudi Credit
58. Lemon Wallet
59. Loan hub
60. Loan Galaxy
61. LoanPapa
62. Mach Loans Ghana
63. Mascedi Consult
64. Mbosea
65. Mega Credit
66. Mika Cash Loan App
67. MOCO
68. MoLoan
69. MoLoan
70. Momcash
71. momo cash loans
72. Money Loan App
73. New Loan Ghana
74. OnLoan/WantCash Credit Ghana App
75. PK Loans
76. Plus Loan
77. Popcash
78. Prime Loans
79. Pro Kash
80. Quick Cash
81. RapidCedi
82. Rapid Cedi
83. Rapid Money
84. Robin Personal Loan
85. Sika Bus
86. Sikadua
87. Sikakasa
88. smatloan
89. Soft kash
90. Steadycash
91. Sunny Cash/Sunny Loan
92. TopCredit
93. True Cedi
94. Ukash
95. Ultra Loan
96. YooCash
97. Zip Loan
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.
Bank of Ghana will 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 general public is encouraged 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.
These loan facilities are accessed remotely 24/7 through mobile money wallets without
the need for collateral. Further, to adhere to the relevant consumer protection and data privacy laws.
Source: Bank of Ghana
