Microcredit & Money Lending Companies in Ghana

As of May 2021, there were a total of 31 Bank of Ghana licensed microcredit and money lending companies in Ghana. There are actually many more companies operating in the country which are not on this list, and that should be a concern to anyone seeking of engaging the survives of the money lending institution, making sure you’re not dealing with some scam or ponzy scheme.

Microcredit Company

A microcredit institution is essentially an entity that gives small loans, also called microloans, to impoverished borrowers and people who typically lack collateral security, steady employment, or verifiable credit history.

The idea is to alleviate poverty and support entrepreneurship in poor communities. Money lending companies in Ghana have in the past years worked to support ailing businesses and individuals by offering them small loans to help lift them and their families out of poverty.

Difference between Microcredit and Microfinance

According to EnterSlice, a simple difference between microfinance and microcredit is that microcredit is simply a small loan facility provided to people with little earning to motivate them to become self-employed. Microfinance on the other hand refers to financial services offered to small enterprises and entrepreneurs who do not qualify for loans from other banks and financial institutions. You can take a look at our recently written article on a complete list of microfinance institutions in Ghana.

Also, microcredit includes credit activities, while microfinance includes credit activities and non-credit activities like savings, pension, insurance, etc.

Mobile Money Instant Loans

Many of these companies offer instant loans via mobile money to their customers. These loans are often “fast and easy long-term loans”, as they call them. Interest on these loans ranges from 1% per day to the neighbourhoods of 7% per month, and the amounts can run up to Ghs1000 or more.

List of Money Lending Companies in Ghana

In alphabetical order, the following is a complete list of licenced banks in Ghana as of May 2021.

No.	Name of Micro Credit Institution	City	Phone Number
1	Cashcow Money Lending Limited	Accra	0244230584
2	Cobbs Money Lending Services Limited	Accra	0302673822
3	CUD Money Lending Limited	Accra	0577668351
4	DAD Micro-Credit Limited	Accra	0246441101
5	Dickmafle Money Lending Limited	Agbozume	0244028009
6	DL Money Lending Limited	Kumasi	020201577
7	F.O.D Money Lending Services Limited	Accra	0577738770
8	FIDO Money Lending Limited	Accra	054-0114250
9	Heritage And Legacy Money Lending Company Limited	Accra	0207431581
10	Infinity Capital Money Lending Limited	Accra	0302964372
11	KDA Money Lending Services Limited	Kumasi	0322028948
12	Krowe Money Lending Company Limited	Accra	0302546950
13	Link Exchange Micro-Credit Limited	Accra	0302242746
14	Macella Money Lending Limited	Accra	0205369118
15	Magnet Money Lending Limited	Accra	0302969087
16	MHT Money Lending Limited	Accra	0302948885
17	Multi – Value Money Lending Limited	Accra	0242613448
18	MultiTrust Money Lending Services Limited	Accra	0244232044
19	NDL Money Lending Limited	Accra	0206467368
20	Nectar Money Lending Srevices	Accra	0302962311
21	New ACME Trust Money Lending Services Limited	Accra	0243220404
22	PatKat Money Lending Company Limited	Mankesim	0244623454
23	Primefex Money Lending Limited	Accra	0245704280
24	PWF Capital Money Lending Limited	Accra	0208141968
25	Quick Credit And Investment Money Lending Limited	Accra	0302687475
26	Selvan And Salia Capital Money Lending Limited	Accra	0208350396
27	Sikapress Money Lending Company Limited	Accra	0302676435
28	Star Capital MoneyLending Limited	Accra	0572231930
29	Vision Fund Ghana Money Lending Limited	Accra	0302502064
30	Welcome Money Lending Services Limited	Takoradi	0312000602
31	Yobsons Money Lending Limited	Accra	0208377974

Source: Bank of Ghana

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