Don’t Borrow Money From These 19 Organizations: Bank of Ghana Warns!

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Ghanaians have been warned by the Central Bank not to borrow money from 19 unauthorized institutions.

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On August 22, 2022, it issued a statement that read,

“Bank of Ghana has observed that a number of unlicensed entities are engaged in the provision of loans to the Ghanaian public, in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

These illegal entities mostly employ the use of mobile applications and social media in their activities.”

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The BoG claims that the actions of these illegal businesses amount to a violation of consumer protection rules and a violation of laws governing client data and privacy.

The following organizations are among those offering lending services without a license from the Bank of Ghana:

1. SikaPurse Quick Online loan

2. 4Cedi Instant Mobile loan application

3. Zidisha Online Loans

4. GhanaLending Application

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5. BegyeBosea Loan

6. LendingPapa – Online Loans

7. CrestCash Loan

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8. Credxter – Loans and Hire- Purchase

9. MobiLoan Application

10. Cedi Now – Cash Loans Application

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11. ChasteLoan Application

12. LoanClub-Ghana Instant Loan

13. AdamfoPa Loan

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14. MetaLending- Instant Cash Loan

15. Wohiasika Loan (Ghanaloan.net)

16. Boseafie – Bosea Micro-Credit

17. SikaKasa Online Lending

18. LoanPro – digital and instant loan

19. SikaWura Loan Application

Don't Borrow Money From These 19 Organizations: Bank of Ghana Warns!

Don't Borrow Money From These 19 Organizations: Bank of Ghana Warns!
Don't Borrow Money From These 19 Organizations: Bank of Ghana Warns!

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Conclusion

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