BoG sets June 2026 deadline for unlicensed mobile loan and digital credit firms to regularize operations

The Bank of Ghana (BoG) has announced that all existing mobile loan applications and digital credit service providers operating without a license must regularize their operations by June 30, 2026, or face regulatory sanctions.

In a public notice issued on October 31, 2025, and signed by Aimee Vyda Quashie, Acting Secretary of the Bank, the central bank stated that it will begin accepting applications from entities seeking to operate as Digital Credit Services Providers from November 3, 2025.

“The Bank of Ghana wishes to inform the public that, effective 3rd November 2025, the Bank will commence accepting applications from entities seeking to operate as Digital Credit Services Providers,” the statement said.

According to the BoG, this move forms part of efforts to streamline Ghana’s fast-growing digital lending space and ensure that all players comply with regulatory standards designed to protect consumers and maintain financial stability.

The central bank warned that any mobile loan platform or digital credit company that fails to obtain the required license within the stipulated period will face “appropriate regulatory action.”

“All existing mobile loan applications and digital credit service providers currently operating without a license from the Bank of Ghana are hereby notified to regularize their operations with the Bank,” the notice emphasized.

The Bank urged interested entities to submit the necessary documentation and meet all licensing requirements through its FinTech and Innovation Office located at its head office on Castle Road, Accra.

The public and industry players were further encouraged to visit the BoG’s official website or contact the FinTech and Innovation Office for additional information on the licensing process.