Keypoints:
- GH¢20,000 (US$1,600) licence fee set for digital lenders
- Rules take effect November 1, 2025
- Minimum GH¢2m (US$160k) paid-up capital required
THE Bank of Ghana (BoG) has fixed a GH¢20,000 ($1,600) licence fee for companies offering digital credit services, forming part of its sweeping Directive for Digital Credit Services Providers that becomes mandatory on November 1, 2025. The central bank says the measure aims to regulate Ghana’s rapidly growing online lending market while strengthening consumer protection.
New licensing regime
Any business wishing to operate as a Digital Credit Services Provider must pay the GH¢20,000 ($1,600) licence fee and show a minimum paid-up capital of GH¢2 million ($160,000). Applicants are required to maintain a physical office in Ghana and have at least 30 percent Ghanaian equity ownership.
The Directive draws on the Non-Bank Financial Institutions Act, 2008 (Act 774), alongside the Payment Systems and Services Act, the Borrowers and Lenders Act, and the Data Protection Act.
Ownership and operational standards
Shareholding is capped so no single person may own more than 90 percent. Applicants must submit a detailed business plan, risk management framework and evidence of secure ICT systems. Licensees are barred from unauthorised activities such as foreign-exchange trading or deposit-taking.
Consumer safeguards
Lenders must clearly disclose loan terms—including principal, fees, interest and repayment schedules—before agreement. The rules prohibit harassment or public shaming in debt collection and require borrower consent for any sharing of credit data with licensed bureaus.
Enforcement and penalties
Operating without a licence after November 1 will be a criminal offence. The BoG can suspend or revoke a licence for breaches, misrepresentation or anti-money-laundering violations.
By setting a GH¢20,000 ($1,600) licence fee alongside tough capital and compliance requirements, the Bank of Ghana aims to bring discipline and stronger consumer safeguards to Ghana’s booming digital lending sector.
