The Bank of Ghana (BoG) has held an engagement session with members of the media to deepen public understanding of the fast-growing digital credit landscape in the country.
The session forms part of the central bank’s broader effort to promote responsible lending practices and ensure that consumers are better protected as digital financial services continue to expand.
Speaking at the event, the Bank’s Director of Communication, Bernard Otabil, underscored the critical role of the media in shaping public perception and promoting financial literacy.
He noted that as digital credit services become more accessible through mobile phones and online platforms, it is increasingly important for the public to receive accurate, timely, and clear information.
Mr. Otabil emphasised that media engagement is essential to narrowing the information gap surrounding digital lending.
According to him, the rise of instant mobile loans, fintech-driven credit products, and online lending platforms presents both opportunities and risks. While these innovations improve access to finance especially for underserved populations they also raise concerns about transparency, data protection, and potential predatory practices.
“The media remains one of our strongest partners in ensuring that consumers understand their rights and responsibilities when accessing digital credit,” Mr. Otabil said. “By working closely with journalists, we can amplify messages on responsible borrowing, regulatory safeguards, and the need for customers to use only licensed and compliant service providers.”
He further explained that the Bank of Ghana continues to strengthen its regulatory and supervisory frameworks to address challenges emerging in the digital lending ecosystem. These include enforcing compliance among digital lenders, monitoring unethical recovery practices, and ensuring that customer data is handled securely.
Participants at the session were taken through key aspects of the BoG’s consumer protection guidelines, current regulatory measures for digital credit providers, and the central bank’s ongoing initiatives to promote financial stability.
The event concluded with a call for sustained collaboration between the BoG and the media to safeguard consumer interests and build public trust in Ghana’s digital financial services sector.
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