Illegal Loan Apps in Ghana You Must Avoid (2025 Update)
If you are currently reading this because a loan app agent is threatening to send your picture to your church group or mother-in-law, STOP. Take a deep breath. You are not a criminal. You are a victim of a sophisticated digital crime. Read this guide immediately.
The Nightmare Scenario
It starts with a simple need. Maybe the electricity prepaid is finished, or you need quick cash for transport to work. You see an ad on YouTube or TikTok: “Get 500 Cedis in 5 minutes! No Collateral! Just MoMo!”
You download the app. You verify your Ghana Card. You smile for the selfie.
But they didn’t give you 500 Cedis. They sent you 140 Cedis. And they say you owe 280 Cedis in 6 days.
You panic. You plan to pay, but “Dumsor” affects your business, or your salary is delayed. You miss the deadline by one hour.
Suddenly, your phone explodes. “PICK THE CALL OR WE POST YOU!” “CRIMINAL! WE ARE CALLING YOUR MOTHER!” “WE WILL MARK YOU AS A THIEF ON SOCIAL MEDIA!”
They send you a WhatsApp message with your own photo, edited with “WANTED” written across it. They send it to your boss. They send it to your landlord.
This is not banking. This is Digital Terrorism. And in 2025, it has become a national crisis.
The Official Stance
Let me be very clear: 90% of these apps are operating illegally.
The Bank of Ghana (BoG) has repeatedly issued notices warning the public against unlicensed entities engaged in lending. If a lending app is not licensed by the BoG, it has no legal right to operate in Ghana.
Furthermore, the Data Protection Commission (DPC) has declared the activities of these apps — specifically the “debt shaming” and accessing of third-party contacts — as a severe violation of the Data Protection Act, 2012 (Act 843).
When they threaten to “arrest” you, they are lying. A loan default is a civil matter, not a criminal one. The police cannot arrest you for owing a debt, especially to an illegal entity.
Known Predatory Apps (2025 Watchlist)
These apps often change their names, logos, and listings on the Google Play Store to evade bans. However, the operators remain the same.
This list is compiled from victim reports, BoG warnings, and Cyber Security Authority (CSA) alerts.
The “Hall of Shame” (Most Reported for Harassment):
- SikaPurse
- 4Cedi
- FufuPay
- Cocoaloan
- CashPal
- Boseafie
- Momo Cash
Other Apps Flagged in Recent CSA & BoG Alerts:
- Ahomka Loan
- Casharrow
- Cashwave
- Cmgh Loan
- Credit Bag
- Divacash
- Loanfast
- Zeus Mobile
Flagged by Yhang Mhany
- Zigwe Loans
- Monifi
- Omanpesa
- Taploan Up
- Swift Lend
- SikaSwift Pro
- Wooden loan
- LoanGlide
- Sika Rush
- FundsCredit
- SoarCredit
- SuneCredit
- AyaLend
- SoftMoney
- AmanfiLoan
- Sika Sika
- JourneyFin
- HastyCredit
- Loan Base
- GlowCredit
If you see an app name that sounds like “Easy,” “Fast,” “Quick,” or “Sika” combined with a generic logo, check the reviews first. If the app suddenly disappears from your phone or the Play Store, do not panic; it likely got banned, but they will still try to call you via WhatsApp.
How They Trap You
These loan sharks operate on a specific model designed to trap you in a cycle of debt.
1. The Data Scraping
When you install the app, it asks for permissions. It doesn’t just ask for your location; it asks for:
- Contacts: To steal your family and friends’ numbers.
- Storage/Gallery: To look for compromising photos or ID cards.
- SMS: To see your transaction history.
By clicking “Allow,” you are handing them the weapon they will use to shoot you later.
2. The Interest Trap
They advertise 15% interest per year. Reality: They charge 40-50% interest per week. They hide this as “Service Fees,” “Management Fees,” or “Risk Fees.” If you borrow 200 Cedis, you might only receive 120 Cedis (because they deduct the fee upfront) but you still owe 200+ Cedis. This calculates to an APR of over 400%, which is illegal.
3. The “Extension Fee” Scam
When you can’t pay, they offer you an “extension” if you pay a small fee (e.g., 50 Cedis). This is a lie. In many reported cases, the app does not update after you pay the extension fee, and they continue to harass you for the full amount. Never pay the extension fee.
How to Spot a Fake Loan App
Before you download any lending app, run it through this “Red Flag Checklist.”
- No Physical Office: Do they list an office in Accra, Kumasi, or Takoradi? Or is the address just “Accra, Ghana”? Legitimate businesses have verifiable locations.
- No BoG License Displayed: A legitimate lender will proudly display their Bank of Ghana License Number on the app’s startup screen or “About” section.
- The “Gmail” Contact: Does their support email end in @gmail.com or @yahoo.com? Real companies have professional domains (e.g., support@fido.credit or help@zeepay.com).
- The Review Section Bot Farm: Look at the reviews. Are there hundreds of 5-star reviews with generic names like “John Doe” saying “Good app, fast money”? Then look at the 1-star reviews. If the 1-star reviews scream “THIEVES” and “THEY CALLED MY WIFE,” believe the 1-star reviews.
What To Do If You Are A Victim
If you are currently being harassed, follow these steps immediately. Do not let fear paralyze you.
1. STOP Paying the “Extension Fees”
You are throwing money into a hole. If they have already started shaming you, paying them often won’t stop the harassment. They smell fear.
2. Warn Your Contacts
Beat them to the punch. Send a broadcast message to your contacts/WhatsApp status.
3. Report to the Authorities
- Data Protection Commission (DPC): Call them or visit them. They are actively building cases against these apps.
- Phone: +233 25 630 1533
- WhatsApp: 050 617 7975
- Cyber Security Authority (CSA):
- Short Code: Dial 292 (to report cyberbullying/fraud).
- WhatsApp: 050 160 3111
- Earn More Cash Today:
- Website: https://www.earnmorecashtoday.com/report-a-scam/
- Phone: 059 575 3044
- WhatsApp: 059 575 3044
- Google Play Store: Flag the app as “Improper Content” > “Harassment or Bullying.”
4. Uninstall and Revoke Permissions
Delete the app immediately. If possible, factory reset your phone to ensure no spyware remains.
Conclusion
I know times are hard. The cost of Kenkey is up, transport is up, and business is slow. But going to a loan shark is like drinking poison to quench your thirst.
These apps rely on your shame. They rely on the fact that Ghanaians are proud and respectful people who fear public disgrace. Break the silence. Tell your neighbor, tell your church member. The more we expose them, the less power they have.
If you need a loan, use BoG-licensed institutions (like Fido, banks, or established Susu collectors). Stay safe, Ghana.
Frequently Asked Questions (FAQ)
Can a loan app arrest me in Ghana?
No. Defaulting on a loan is a civil issue, not a criminal one. The police will not arrest you for owing a debt to a mobile app, especially one that is operating illegally without a Bank of Ghana license.
How do I check if a loan app is licensed by the Bank of Ghana?
You can visit the official Bank of Ghana website and check the list of “Approved Digital Lending Applications” If the app is not on the list, it is operating illegally. You may use this link to check: https://www.bog.gov.gh/supervision-regulation/all-institutions/digital-lending-applications/
