19 companies you shouldn’t borrow from

dr Ernest Addison is Governor of the Bank of Ghana

The Bank of Ghana has urged Ghanaians to break away from some 19 loan providers in the Ghanaian market.

The central bank said the companies are unlicensed, so customers doing business with them do so at their own risk.

In a statement spotted by GhanaWeb on August 22, 2022, the bank found that these “unlicensed entities are engaged in the provision of credit to the Ghanaian public in violation of the Banks and Specialized Depository Institutions Act 2016 (Act 930). . .”

The statement further mentioned that these illegal organizations mainly use mobile applications and social media in their activities.

“The activities of these unauthorized entities amount to non-compliance with the regulations
Consumer protection requirements and misuse of customer data and privacy
laws,” he added.

However, it is not clear if there are other companies, but the Bank of Ghana lists these 19 financial companies among those offering lending services without a central bank license.

1.SikaPurse Quick Online Loans

2.4Cedi Instant Mobile Loan Application

3.Zidisha online loan

4.GhanaLending application

5.ChasteLoan Application

6.LoanClub Ghana Instant Loans

7. AdamfoPa Loan

8.MetaLending – Instant Cash Loan

9. Wohiasika Loan (Ghanaloan.net)

10.Boseafie – Bosea Microcredit

11.SikaKasa Online Lending

12.LoanPro – Digital and Instant Loan

13. SikaWura Loan Application

14.BegyeBosea Loan

15.LendingPapa – Online loans

16.CrestCash Loans

17.Credxter – Loan and Hire Purchase

18.MobiLoan Application

19.Cedi Now – Cash Loan Application

SSD

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