The Bank of Ghana has introduced a new regulatory framework to guide the licensing and operations of Digital Credit Services Providers, marking a pivotal shift in the oversight of the country’s growing digital lending sector. The directive, titled Directive for Digital Credit Services Providers in Ghana, 2025, will take effect on November 1, 2025. It seeks to balance the expansion of digital credit with the need for consumer protection, financial stability, and data security.
Objectives and Scope
The directive aims to expand access to digital credit while safeguarding consumers from harmful practices. It sets out clear licensing requirements, operational standards, and compliance expectations for companies that provide short-term, low-value loans through digital platforms such as apps and online portals. The scope applies exclusively to corporate entities operating as digital credit providers and prohibits unlicensed operations.
Licensing and Ownership Requirements
Entities intending to operate as digital credit providers must secure a licence from the Bank of Ghana, with applications subject to detailed scrutiny. A minimum Ghanaian equity participation of 30 percent is required, ensuring local ownership in the sector. No single individual may hold more than 90 percent of shares, and all applicants must demonstrate financial strength, sound governance, and robust risk management systems.
Operational Rules and Restrictions
Licensed providers are required to maintain a principal office in Ghana to address customer complaints and liaise with regulators. They must operate solely within the scope of their licence, meaning they cannot simultaneously engage in deposit-taking, foreign exchange transactions, or payment service provision. Physical offices, however, may not be used for manual processes such as disbursements or collections, which must remain fully digital.
Governance, Technology, and Compliance
Strong corporate governance standards underpin the directive, with requirements for fit and proper management personnel and disclosure of directors and licence details on company websites. Providers must also deploy reliable technology infrastructure, including fraud detection tools, third-party compliance certifications, and contingency systems for business continuity. The Bank of Ghana will retain supervisory access to platforms and systems for oversight purposes.
Risk Management and Anti-Money Laundering
Digital Credit Services Providers are mandated to adopt robust risk management frameworks, covering operational, financial, and cybersecurity threats. Compliance with anti-money laundering, counter-terrorism financing, and anti-proliferation laws is compulsory, with each provider required to appoint an Anti-Money Laundering Reporting Officer. Continuous transaction monitoring, suspicious activity reporting, and know-your-customer protocols are central to maintaining integrity in the sector.
Consumer Protection and Data Privacy
Consumer rights are a major focus of the directive, with clear guidelines on disclosures, interest rates, and complaint resolution processes. Providers must issue pre-agreement terms digitally, ensuring customers understand repayment schedules, fees, and penalties before taking loans. The directive prohibits aggressive or abusive debt collection tactics, unauthorized communications with borrowers’ contacts, or public shaming, reinforcing ethical standards in the industry.
Reporting, Auditing, and Sanctions
All providers are obligated to submit regular financial and operational reports to the Bank of Ghana and maintain audited records for at least ten years. The regulator may impose penalties, suspend licences, or revoke authorisations for non-compliance, including failure to meet capital adequacy requirements or breaches of consumer protection rules. Operating without a licence constitutes an offence punishable under existing financial laws.
The introduction of this directive reflects the Bank of Ghana’s commitment to fostering a responsible, transparent, and sustainable digital lending environment. By mandating local participation, setting strict governance standards, and strengthening consumer protections, the regulator is positioning the digital credit sector for long-term growth. As the effective date of November 2025 approaches, providers will need to align operations with the new framework or risk exclusion from one of Ghana’s fastest-growing financial services markets.