Bank of Ghana Tightens Licensing Rules for Mobile Loan Apps and Digital Credit Providers

The Bank of Ghana has announced a new licensing regime to regulate entities operating as Digital Credit Services Providers (DCSPs) and mobile loan applications across the country.

In a public notice, the central bank said it will begin accepting license applications from November 3, 2025, for companies wishing to operate in the digital credit space. It added that all existing digital lenders and mobile loan operators must regularize their activities by June 30, 2026.

The directive targets mobile loan applications and DCSPs currently operating without the Bank of Ghana’s authorization. The central bank cautioned that any entity that fails to comply with the new licensing requirement risks regulatory action, including suspension or cessation of services.

According to the notice, the Bank of Ghana’s FinTech and Innovation Office will handle all licensing inquiries and guide applicants through the documentation and registration process. Stakeholders are advised to contact the Head of the FinTech and Innovation Office for information on requirements and procedures.

The Bank noted that the directive is part of ongoing efforts to formalize Ghana’s digital credit market, protect consumers from predatory practices, ensure data security, and promote responsible lending. Industry observers say the move will enhance consumer trust, improve credit management systems, and create a level playing field for both fintech and traditional financial institutions.

The notice further advised applicants to prepare their documentation and monitor official Bank of Ghana communications for details on qualification criteria, fees, and timelines.

The Bank of Ghana emphasized that the licensing initiative marks a major step toward ensuring transparency, accountability, and professionalism in Ghana’s rapidly expanding digital lending industry.