The Bank of Ghana (BoG) will, from November 3, 2025, begin accepting applications for digital credit service provider licences, in a move to regulate the country’s fast-growing mobile-based lending sector.
In a statement, the central bank said it had issued a directive spelling out the requirements for institutions seeking approval. It urged prospective applicants to “adequately acquaint themselves with the directive and comply accordingly” before filing applications.
Digital credit services—delivered largely through mobile apps and fintech platforms—typically provide short-term, small-ticket loans outside traditional banking channels.
In August, the BoG formally designated the activity as a non-banking service, citing the need to tighten oversight, protect consumers, and promote financial inclusion.
Under the new rules:
- Providers must hold a minimum paid-up capital of GHS 2 million.
- A transaction limit of GHS 10,000 will apply.
- The licence fee is GHS 20,000, renewable every two years.
- Applications are to be submitted via the bank’s Online Regulatory Analytics Surveillance System (ORASS).
The BoG stressed that the notice does not amount to automatic authorisation for existing operators, who must also apply under the new licensing regime.
The move underscores Ghana’s determination to formalise fintech-led lending, ensuring that innovation in the sector is matched by stronger consumer protection, financial stability, and regulatory oversight.
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