The Bank of Ghana has issued a public caution against twenty digital lending applications operating in the country without the requisite licence or statutory authorization.
According to the central bank, these mobile platforms are functioning in direct contravention of established financial regulations governing digital credit services. The regulatory authority revealed that the listed entities have failed to obtain approval to conduct money lending activities, thereby exposing consumers to severe data privacy violations and unapproved lending practices.
The central bank identified the affected digital platforms as Agile Loan, AmanaPay, CashWay, Foutou Credit, HastyCredit, InsCash, KudiNow, LendAura, Lever credit, and LoanGlide. The remaining entities flagged in the official notice include NovaCedi, Palm Loan, PocketLoan, Rite Credit, SikaCare, SikaNow, Susu Loan, Taploan Up, Temivo Cedi, and Zatuloan.
Members of the general public are strongly advised to desist from transacting business with any of the named applications. The Bank of Ghana reaffirmed its commitment to taking enforcement actions against illegal financial service providers to protect consumers and maintain stability within the financial sector.
By: Rainbowradioonline.com/Ghana
