BoG Warns Public Against Unlicensed Digital Loan Apps
Published . Category: Business.
The Bank of Ghana (BoG) has announced that unlicensed Digital Credit Services Providers (DCSPs), including mobile loan applications, now face regulatory sancti…
The Bank of Ghana (BoG) has announced that unlicensed Digital Credit Services Providers (DCSPs), including mobile loan applications, now face regulatory sanctions following the expiration of the June 30 deadline to regularise their operations. The move marks a significant step in the central bank’s efforts to strengthen oversight of Ghana’s rapidly growing digital lending sector. In a public notice issued on Tuesday, July 22, the BoG said all digital lenders that failed to obtain the required a…