Don’t take loans from these 19 unlicensed firms – BoG warns

The Bank of Ghana (BoG) has warned the public to desist from receiving loans from unlicensed loan providers and thus issued a list containing the names of such entities.

The BoG says the activities of these unauthorised loan providers are in contravention with the Banks and Specialised Deposit-Taking Institutions Act.

The list of the unlicensed entities in question are:

1. SikaPurse Quick Online loan

2. 4Cedi Instant Mobile loan application

3. Zidisha Online Loans

4. GhanaLending Application

5. ChasteLoan Application

6. LoanClub Ghana Instant Loan

7. AdamfoPa Loan

8. MetaLending- Instant Cash Loan

9. Wohiasika Loan (Ghanaloan.net)

10. Boscafie Bosea Micro-Credit

11. Sikakasa Online Lending

12. LoanPro-digital and instant loan

13. SikaWura Loan Application

14. BegyeBosea Loan

15. LendingPapa – Online Loans

16. CrestCash Loan

17. Credxter – Loans and Hire-Purchase

18. MobiLoan Application

19. Cedi Now- Cash Loans Application

In a statement, the BoG said it will soon crack the whip on these unlicensed loan providers whose activities pose threat to the banking sector.

“Bank of Ghana is taking steps to take action against these entities and hereby advises the general public to desist from doing business with all unlicensed loan providers,” the statement warned.

Source: Citinews