The Bank of Ghana (BoG) has officially designated Digital Credit Services as a Non-Bank Financial Service under the First Schedule of the Non-Bank Financial Institutions Act, 2008 (Act 774).
In a public notice issued on Friday, August 29, 2025, the central bank explained that the move is part of broader efforts to expand access to financial services and deepen financial inclusion across the country.
The BoG, however, stressed that the designation does not automatically authorize entities to provide digital credit services. Existing and new providers must still comply with regulatory requirements under Act 774.
“The Bank of Ghana will in due course issue a Directive to lay out the licensing requirements for the provision of Digital Credit Services,” the notice stated.
Stakeholders have been urged to take note of the new designation as the regulatory framework for licensing and supervision is finalized.
The notice was signed by Aimee V. Quashie, Secretary to the Bank of Ghana.
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