The Bank of Ghana has issued a new Directive for Digital Credit Services Providers, 2025, which will take effect November 1, 2025.
The goal: to provide a formal licensing and regulatory framework for companies that offer digital credit (i.e. small, short-term loans delivered via digital channels).
Why it matters
- Digital credit has grown rapidly, including via fintechs and apps. The Bank needs clearer rules to protect consumers and maintain financial stability.
- This Directive sets standards for licensing, operations, data protection, risk management, and penalties for noncompliance.
- It distinguishes digital credit firms from banks, payment services providers, and deposit-taking institutions.
Key provisions at a glance
| Area | What the Directive says |
|---|---|
| Licensing & scope | Entities must apply for a digital credit services licence to operate. Operation without one is prohibited. |
| Ghanaian shareholding | At least 30% Ghanaian equity required. No one person may hold more than 90% of shares. |
| Physical presence | Must maintain a principal office in Ghana to handle customer complaints and interface with regulators. |
| Prohibited activities | Digital credit providers cannot also engage in deposit-taking, foreign exchange dealing, or payment service provision. |
| Governance & control | Strong corporate governance, conflict of interest safeguards, disclosure of board and management. |
| Operations & tech | Must deploy robust IT systems, backup and continuity plans; obtain third-party certifications; allow Bank of Ghana access for supervision. |
| Risk & AML/CFT | Full compliance with anti-money laundering, terrorism financing laws. Must appoint AMLRO, monitor suspicious transactions, conduct KYC/CDD. |
| Consumer & data protection | Clear disclosure to customers of terms, no misleading info, ability to submit complaints (response within 20 days). Data privacy and consent required before sharing credit histories. |
| Credit policy & collection | Credit limits must comply with rules. Collections must avoid harassment, threats, unauthorized contact, or public shaming. |
| Reporting & audit | Regular financial and operational reporting to the Bank. Books must be audited; records retained for at least 10 years. |
| Penalties | Non-compliance may lead to sanctions, suspension, revocation of licence, or prosecution under relevant Acts. |
What’s next / timeline
- The Directive becomes effective November 1, 2025.
- Entities currently operating in digital credit must align with the new licence regime and requirements before that date.
- The Bank of Ghana has authority to approve, suspend or revoke licenses if rules are violated.
