Loan App Scams in Ghana: How to Spot Unlicensed Lenders

Short answer: in 2026 the Bank of Ghana has repeatedly named unlicensed digital loan apps, 20 at a time in August, September and October, under its directive for digital credit providers. Before borrowing, check that the lender is licensed on the Bank of Ghana website, read the full cost of the loan, and refuse apps that demand access to your contacts and photos.

Warning signs of a bad loan app

• It is not on the Bank of Ghana's list of licensed or authorised providers, or appears in its warnings.
• It asks for permission to read your contacts, photos or messages.
• Fees are taken before you receive the loan, or the amount you receive is much less than promised.
• Very short repayment periods (a few days) with large penalties.
• Threats to shame you to your contacts if you are late.

How to check a loan app

1. Search the app and company name on the Bank of Ghana website (bog.gov.gh) and in its public notices.
2. Search it on TrustCheck for borrower reviews.
3. Read the app's terms: interest, fees, repayment date and what happens if you are late.

If a loan app is harassing you

Keep screenshots of messages, report harassment to the Cyber Security Authority (292) and to the Bank of Ghana, and write a review so other borrowers are warned. Read about fake investment platforms too: they often use the same tricks.