Bank of Ghana Postpones New Cedi Notes Launch and Blacklists 20 Unauthorized Loan Apps

Introduction

The Bank of Ghana (BoG) has announced significant updates affecting the nation’s financial landscape, including the postponement of its anticipated new cedi notes launch and a decisive crackdown on predatory digital lending platforms.

Key Takeaways

• The launch of the new Bank of Ghana cedi notes has been rescheduled to November 12.
• The central bank has officially blacklisted 20 unauthorized and exploitative loan applications operating in the country.
• Consumers are urged to verify financial service providers to protect themselves from predatory lending practices.

Financial regulators continue to monitor the digital credit space closely, ensuring consumer protection while managing the broader macroeconomic transition as the central bank refines its currency rollout strategy.