By Benjamin Nii Nai Anyetei
The Bank of Ghana has introduced stricter rules for companies offering digital loans, requiring a minimum capital of GH¢2 million to operate. The move targets the country’s rapidly growing digital credit sector, which has expanded over the past five years alongside a rise in consumer complaints.
The directive, published on September 23, 2025, outlines that applicants must demonstrate adequate capital in their corporate accounts, supported by a detailed funding plan. It also requires firms to maintain a gearing ratio of eight, cap transactions at GH¢10,000, and implement comprehensive safeguards against fraud, money laundering, and cybersecurity threats.
Ownership rules stipulate that at least 30% of equity must be held by Ghanaians, while no single shareholder may hold more than 90 per cent. Directors and key managers must meet the Bank’s “fit and proper” standards, providing proof of professional competence and integrity. Companies are also expected to submit thorough business plans, including five-year financial projections and details of ICT systems to be deployed.
Applications for the new licenses will be accepted through the Bank’s Online Regulatory Analytics Surveillance System (ORASS) starting November 3, 2025, with a processing fee of GH¢10,000, a licensing fee of GH¢20,000, and a renewal fee of GH¢10,000 every two years.
The Bank of Ghana said the licensing regime aims to ensure that only well-capitalized and professionally run firms participate in the digital credit market, boosting accountability while supporting innovation and financial inclusion. The move is seen as a response to the sector’s rapid expansion and the growing need for consumer protection.
