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Ghana Tackles Illegal Loan Apps Over Fraud, Cyber-Bullying


Online loan apps are the new fraudsters in Ghana, targeting low-income earners with intrusive ads for soft loans.

Online loan apps are the new fraudsters in Ghana, targeting low-income earners with intrusive ads of soft loans that get them in trouble.

One Ghanaian victim was in dire need of money to top up his fees at Takoradi Technical University when he decided to download an online loan app to apply for a ¢300 ($26) loan.

Without submitting the stringent documentation required by licensed operators, he received the money in his mobile wallet, but it came with a price.

“They took out ¢90 as service charge and sent the rest. Within a week, they said my debt was ¢570,” he says. “All I saw next was that they’ve sent my photos to my contacts via WhatsApp, tagging me as a criminal.”

Online loan apps are the new fraudsters in Ghana, targeting low-income earners with intrusive ads for soft loans. Those who fall for it struggle with the aftermath.

The victim’s manager received myriad text messages offering to defray the latter’s debt.

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