The Bank of Ghana (BoG) has officially designated digital credit services as part of the non-bank financial services sector.
During a media briefing, the governor revealed that it introduces a new licensing category under the First Schedule of the Non-Bank Financial Institutions Act, 2008 (Act 774), to enhance financial access, promote inclusion, and expand regulated credit options for individuals and businesses.
However, the Central Bank clarified that this classification does not automatically authorise or license existing digital credit providers. Instead, it plans to issue a directive soon that will outline the licensing procedures and compliance obligations for digital lenders.
“The Bank of Ghana will, in due course, issue a directive outlining the licensing requirements for offering digital credit services. All stakeholders are advised to take note,” the bank stated on Friday, August 29, 2025.
