• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

BoG expose 19 unlicensed companies giving out loans to the public

3 years ago
in Banking & Finance, Business, Features, highlights, Home, home-news, latest News
2 min read
0 0
1
805
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

BoG expose 19 unlicensed companies giving out loans to the public

The Bank of Ghana (BoG) has said that, it has observed some 19 unlicensed companies giving out loans to the general public.

These 19 unlicensed entities, the Central Bank noted, mostly employ the use of mobile applications and social media in giving out loans to the public.

According to the Bank of Ghana, the activities of the 19 unlicensed entities is in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).

“The activities of these unauthorised entities amount to non-adherence of the consumer protection requirements and an abuse of customer data and privacy laws,” the BoG added.

According to the BoG, the entities providing loan services without a license include:

  • SikaPurse Quick Online loan  
  • 4Cedi Instant Mobile loan application  
  • Zidisha Online Loans  
  • GhanaLending Application  
  • ChasteLoan Application  
  • LoanClub-Ghana Instant Loan 
  • AdamfoPa Loan  
  • MetaLending- Instant Cash Loan  
  • Wohiasika Loan (Ghanaloan.net)
  • Boseafie – Bosea Micro-Credit  
  • SikaKasa Online Lending  
  • LoanPro – digital and instant loan  
  • SikaWura Loan Application 
  • BegyeBosea Loan  
  • LendingPapa – Online Loans  
  • CrestCash Loan  
  • Credxter – Loans and Hire- Purchase  
  • MobiLoan Application  
  • Cedi Now – Cash Loans Application

Meanwhile, the Central Bank has noted that, it is taking steps to take action against these entities and therefore advises the general public to desist from doing business with all unlicensed loan providers.

RelatedPosts

Bank of Ghana Sets Gold Coin Price at GHS 39,273 Per Ounce

Rewriting the Rulebook: Ghana’s Battle to Restore Currency Credibility

Bank of Ghana Raises GHS 836m in Short-Term Bill Auction at 24.8% Yield

The BoG has also warned banks and specialised deposit-taking Institutions as well as payment service providers not to facilitate the illegal transactions of the  unlicensed loan providers.

Source: norvanreports
Tags: Bank of Ghana (BoG)Banks and Specialised Deposit-Taking Institutions ActBoG expose 19 unlicensed companies giving out loans to the public

Comments 1

  1. Bright Osei Akoto says:
    3 years ago

    How did these firms started operating, if they don’t have the required licences?

No Result
View All Result

Highlights

Importers Urged to Use Credit Cards as BoG Tightens Foreign Currency Rules

FirstBank Prepares for 2025 Staff Engagement Empowering People, Shaping Culture, Achieving Targets

Gov’t to Overhaul Investment Law, Create 24-Hour Economy Authority in New Bills to Parliament

Ghana, Singapore Push Cross-Border Payments and SME Ties as Mahama Hails Stabilising Economy

GoldBod Suspends Gold Buyer’s Licence Over Illegal Pricing

JICA and AfDB Sign Agreement to Extend Enhanced Private Sector Assistance Initiative for $5.5 Billion

Trending

Business

Bank of Ghana Sets Gold Coin Price at GHS 39,273 Per Ounce

August 28, 2025

Bank of Ghana Sets Gold Coin Price at GHS 39,273 Per Ounce The Bank of Ghana on...

Rewriting the Rulebook: Ghana’s Battle to Restore Currency Credibility

August 28, 2025

Bank of Ghana Raises GHS 836m in Short-Term Bill Auction at 24.8% Yield

August 28, 2025
Bank of Ghana

Importers Urged to Use Credit Cards as BoG Tightens Foreign Currency Rules

August 28, 2025

FirstBank Prepares for 2025 Staff Engagement Empowering People, Shaping Culture, Achieving Targets

August 28, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.