Digital extortion

Ghana tackles illegal loan apps over fraud, cyber-bullying

By Jonas Nyabor

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Posted on July 31, 2023 08:42

In June, the Bank of Ghana flagged 97 money-lending applications hosted on app stores. (AFP/ISSOUF SANOGO)

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.

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