You’II not be able to take any more loans from any financial institution if you don’t pay your MOMO loans- BoG


The Bank of Ghana has advised persons who have taken loans from their respective telecommunication companies and destroyed their sim cards to go back and arrange repayment arrangements.

A statement issued by the central bank said this was important to prevent adverse information on their credit report, that could deny them access to future credit facilities.

The BoG said it has gathered that some persons who took the loans from their respective operators have refused to repay.


It said these individuals have also refused to register their sim cards.

It said data on all mobile money loan customers are available and the credit bureaus.

The statement added that failure to repay the loans would result in negative repercussions on borrowers.

Read the full statement below

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