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Mobile Money Loan Defaualt



PRESS RELEASE

28TH SEPTEMBER 2022

MOBILE MONEY LOAN DEFAULTERS

The attention of Bank of Ghana has been drawn to some individuals who have acquired loans through mobile money platforms, but have deliberately refused to register their SIM cards under the on-going national SIM Card registration exercise, with the intention of avoiding repayment of the acquired loans.

Bank of Ghana wishes to inform the general public that data on all mobile money loan customers are domiciled in the databases of credit bureaus. As a result, failure to repay such loans will attract negative repercussions on borrowers' credit reports/history and could subsequently adversely affect any chances of obtaining loan facilities from other financial institutions and credit providers in future.

Borrowers who have discarded their SIM Cards are advised to contact their telecommunication service providers or respective lenders, to discuss repayment arrangements to avoid adverse information on their credit reports, that could deny them access to future credit facilities.

For further enquiries, contact:


The Director

Financial Stability Department 

Bank of Ghana

Cedi House, 7th Floor

Tel.: 030 266 5005; 059 691 2354; 050 150 2270


(SGD.)

SANDRA THOMPSON (MS.)

THE SECRETARY


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