The Bank of Ghana (BoG) has announced a sweeping framework that will reshape the digital lending industry, bringing stricter oversight and licensing requirements to a sector that has grown rapidly in recent years. Starting November 3, 2025, the central bank will begin accepting applications for licenses from companies offering digital credit, such as microloans accessed through mobile apps and fintech platforms. These new digital lending rules from Bank of Ghana are designed to balance innovation with consumer protection, ensuring that only serious and well-structured firms remain in operation.
At the heart of the directive is a firm financial threshold. As of right now, digital lenders must maintain a minimum paid-up capital of GH¢2 million, with corporate accounts serving as proof of money. In addition to ensuring that licensed businesses have the resources to fulfill their commitments to clients, this measure attempts to weed out unstable operators. To keep lending activity within safe and controlled bounds, there are transaction caps of GH¢10,000 per loan in addition to capital.
But money alone is not enough. Five-year business plans, thorough product descriptions, and proof of strong ICT infrastructure that can support secure operations are all required of applicants. In addition to disaster recovery strategies that protect borrowers in the case of system breakdowns, the BoG requires providers to exhibit readiness against fraud, money laundering, and cybercrime. These specifications demonstrate the central bank’s emphasis on long-term stability, security, and resilience in a sector that affects millions of customers.
Another area that is closely monitored is ownership. According to the new framework, Ghanaians must own at least 30% of the equity in any approved digital lending company, and no shareholder may possess more than 90% of the company. Before being permitted to operate licensed businesses, directors and managers must also fulfill “fit and proper” requirements, which include exhibiting competence, honesty, and good judgment. These measures are meant to keep the industry from becoming monopolized and to guarantee that local involvement and professionalism are reflected in its governance.
The costs of compliance are also spelled out in detail. Businesses are required to pay GH¢10,000 for the processing of their applications, GH¢20,000 for the actual license, and GH¢10,000 for renewals every two years. The BoG contends that these costs guarantee that only reputable companies with sustained dedication and professional ability are awarded licenses, despite the fact that some may see them as an obstacle to entry.
The Bank of Ghana developed these regulations in response to concerns about certain unregulated lenders, whose predatory interest rates, aggressive debt recovery tactics, and hidden fees have harmed borrowers. By strengthening oversight, the central bank aims to protect consumers, promote responsible financial inclusion, and restore order in a sector that has grown faster than regulators initially managed.
Critics warn that the capital threshold and fees may exclude smaller innovators and startups, reduce competition, and potentially increase borrowing costs. Enforcing the rules will also pose a challenge, as monitoring compliance across the industry requires substantial regulatory capacity. Nevertheless, supporters argue that the framework is essential to rebuild trust, professionalize the sector, and prevent the abuses that have undermined public confidence.
