In a bold and far-reaching declaration, Samuel Duku, Technical Manager at MTN Ghana, has issued a stern warning to Mobile Money (MoMo) loan defaulters, revealing that plans are underway to create an integrated blacklist system that will block defaulters from accessing loans across all financial institutions in the country.
The statement, which came during a fintech compliance and cybersecurity conference in Accra on Saturday, has sent ripples through Ghana’s rapidly expanding digital finance ecosystem. Duku emphasized that the era of defaulting on mobile loans without consequences is quickly drawing to a close, as MTN, in collaboration with major credit bureaus and financial regulators, prepares to tighten the net on digital debt avoidance.
Very soon, individuals who default on MoMo loans and fail to repay will not only be blocked from borrowing from us but will also be flagged in a national credit reference database,” Duku stated. “This means they will not be able to secure loans from banks, credit unions, or even fintech lenders.”ßWwe
Mobile Money loans, popularly known as “Qwikloan” or “XpressLoan,” have become increasingly accessible to Ghanaians in recent years, providing short term credit without the bureaucracy of traditional banking. However, this convenience has also fueled a rise in delinquency. Many users, after receiving funds, either change their SIM cards or abandon their mobile numbers to avoid repayment.
According to industry insiders, default rates on MoMo loans have crossed worrying thresholds, with some providers recording up to 40% non-repayment in certain regions. MTN’s move aims to curb what it calls an “intentional culture of loan evasion” that threatens the long-term sustainability of mobile-based credit.
“We are not saying don’t borrow,” Duku clarified, “but if you borrow, pay back. That’s how a responsible credit system works. If you default deliberately, you will face serious consequences in the future.”
MTN is working closely with Ghana’s Credit Reference Bureaus and the Bank of Ghana to synchronize defaulter data across all lending platforms.
Once the integration is completed, every financial institution, from rural banks to app-based lenders, will have access to a borrower’s repayment history.
“It’s not about shaming people,” Duku said, “but about building a system where everyone is accountable. Once your name appears on that list, your financial flexibility is gone until you settle your debts.”
This development is aligned with the Bank of Ghana’s 2024 directive on digital lending compliance, which mandates all lenders to report credit data to licensed bureaus. The central bank has also warned institutions that failure to adhere to credit data reporting will attract sanctions.
The announcement has sparked mixed reactions among Ghanaians. While some support the move as a necessary step to instill discipline in the financial sector, others argue that it may disproportionately affect low income earners who rely on MoMo loans for emergencies.
Sometimes we take the loans to restock our shops, and business is slow. Blocking us from getting any other loan when we default once will just make life harder.”
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This will clean up the credit ecosystem. People need to know that credit is a contract, not a gift.”
MTN has not given a specific date for the full rollout of the blacklist system but confirmed that technical integrations are in advanced stages. Meanwhile, the telco is ramping up public education on loan repayment obligations and financial literacy.
“We want to give people the chance to do the right thing before this system becomes fully operational,” Duku concluded.
As Ghana continues to embrace a digital-first economy, the call for responsible financial behavior grows louder. For MoMo users, the message is now crystal clear: if you borrow, pay back or be ready to face a nation-wide financial lockdown.
