John Adoyi, PBA Journalism Mentee
The Bank of Ghana has imposed new licensing rules for digital credit providers, requiring a minimum paid-up capital of about $133,000 for firms that wish to operate in the digital lending space. The directive, published on 23 September, is part of the central bank’s push to tighten oversight of a fast-growing but under-regulated sector.
Digital credit providers are companies that use mobile technology and online platforms to extend short-term or microloans without the need for traditional banks. Under the new rules, they must meet strict conditions before receiving approval. Applications will open through the Bank’s Online Regulatory Analytics Surveillance System (ORASS) on 3 November 2025.
Join our WhatsApp ChannelApplicants must show evidence of the $133,000 in their corporate accounts and submit a clear plan for how they will fund operations going forward. A gearing ratio ceiling of 8 has been set, and transaction limits will cap individual loans at about $670.
Firms will also be required to pay a $670 processing fee, a $1,330 licensing fee, and $670 every two years for renewal. Beyond finances, the rules cover governance, technology, risk management, and consumer protection. Applicants must present five-year financial forecasts, product designs, and details of ICT systems. They must also demonstrate safeguards against money laundering, fraud, and cyber risk, and submit a Business Continuity and Disaster Recovery Plan.
Ownership rules add another layer. At least 30 percent of equity must be held by a Ghanaian national, and no individual shareholder may control more than 90 percent. Directors and key executives must satisfy the Bank’s “fit and proper” criteria on integrity and competence.
This matters because Ghana’s digital lending market has expanded rapidly but has been plagued by consumer complaints, including hidden fees, aggressive debt collection, and inconsistent interest rates. By enforcing higher capital thresholds and rigorous vetting, the central bank hopes to weed out weak operators and push the rest toward greater transparency and stability. “Applicants are required to adequately abreast themselves with the Directive and comply accordingly,” the Bank said in its notice.
The new regime is part of a wider shift. Earlier this year, the Bank of Ghana designated digital credit services as a non-bank financial service under Act 774 and announced plans to introduce full digital lending guidelines. It has also created a Digital Credit Services wing to strengthen supervision of fintech lending.
