The Bank of Ghana (BoG) has issued a press release informing the general public that data on all mobile money loan customers are domiciled in the databases of credit bureaus.
This is to warn Mobile Money loan defaulters refusing to re-register their SIM Cards with the Ghana Card to think twice.
According to BoG, failure to repay such loans will attract negative repercussions on borrowers’ credit reports/history and could subsequently adversely affect any chance of obtaining loan facilities from other financial institutions and credit providers in the future.
“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.
“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,” parts of a press release issued by the Bank of Ghana on Wednesday has said.
The ongoing SIM Card re-registration process is scheduled to end on Friday, September 30.
With thousands of SIM Cards not registered, it is unclear whether there will be another extension of the deadline.
Below is a copy of the release:
Credit: Modern Ghana
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