List Of Loans For Unemployed In Ghana (2023)

A good way to access the quality of any society is to look at how it treats those of little means. The loans for unemployed in Ghana are therefore commendable because they prove how developed the Ghanaian society truly is. By an initiative of the government; provisions have been made to enable unemployed people to have access to money they would certainly need.

These could be seed capital for business ventures, loans for personal use, or funds for some kind of emergency. These loans are offered by private establishments, as well as by agencies of government. While some are specific to the unemployed, most of these loans are open to anyone who needs them.

Each of these loans has specific terms and conditions set by the lender.

List Of Loans For Unemployed In Ghana

MTN Xpress Loan

The MTN Xpress Loan is available to select MTN users who have been using the mobile money service.

To use this service you need to punch in the USSD code (*170#) into your phone; and the money will be sent to your MOMO account; which you can then withdraw at a nearby MOMO agent, or transfer to your bank account, and then withdraw as cash.

  • You need to have been constantly recharging your MTN line.
  • You need to have been frequently using the mobile money service.

Ahomka Loan

The Ahomka Loan is another loan service offered by MTN. It is very similar to the MTN Xpress Loan and the ones before it. However, the Ahomka Loan is designed to provide assistance to those in need of financial assistance on a longer term basis; the basic tenure of the loan is 90 days.

To get the loan one only has to follow the same process; punch *170# into the phone and send. After that; select financial services, and choose Ahomka loan. The money will be paid into your MOMO account.

  • You need to have been constantly recharging your MTN line.
  • You need to have been using your mobile money account.
  • You must not have defaulted on any loan previously.

Vodafone Cash Ready Loan

The Vodafone Cash Ready Loan is a service offered by Vodafone. This service is quite popular among the people of Ghana, and it allows you to borrow from your mobile network operator.

The money is paid into your Vodafone cash account from where you can transfer it directly to your bank account.

  • You need to have a Vodafone SIM
  • You need to have registered for Vodafone Cash.
  • You need to have been using Vodafone Cash constantly for at least 6 months.

Advans Ghana

Advans Ghana is a microfinance institution that offers various loans to the unemployed in Ghana, as well as to various classes of people such as small and medium scale business owners, workers and so on.

The company has several branches all over the country, and one would need to walk into a nearby branch to pick up a form so as to get a loan from this company.

  • You need to have a valid means of identification.
  • You need to have a valid proof of address.
  • You need to have a recent passport sized photographs of yourself.

Fido Money Lending

Fido money lending company is a financial institution in Ghana that is fully licensed to provide financial services. They have an app, and people who need said loans just have to download the app and then register.

The loans do not require any collateral; and they are offered on a step by step basis in which the applicant is first given a small loan, and then on his next application he can get more, and so on.

  • You need to download the app.
  • You need to register with the company online.
  • You need to pay back the first small loans so as to qualify for larger ones.

Blue Financial Services

Blue Financial Services actually comes from South Africa, but it operates in Ghana, as well as in several other African countries. The company has an app; and one would need to download the app and the register.

The company also has several branches all over the country. They have various loan packages depending on the customer’s financial capacity; and they can gradually increase the amount they offer to the loan applicant.

  • You need to visit their branch
  • You need to have a valid means of identification.
  • You need recent passports.

Izwe Savings And Loans

Izwe Savings and Loans is a financial services company in Ghana that operates as a micro finance bank. Their primary purpose is not just to give out loans but also to help the people achieve their financial goals by saving money.

Whether one is unemployed or not, one can get a loan as long as one has an account with the bank, and has not defaulted on previous loans.

  • You need to have an account with the bank.
  • You need to have operated the account for about 6 months.
  • To open the account you need to have a valid ID, and you would also need to have two passport photos.

Airtel Tigo Money

Airtel Tigo Money is a provision by mobile communications company Airtel. With this one can get a quick loan to take care of any eventuality so as not to be taken unaware.

The Airtel Tigo Money service is only for Airtel users, and there are specialized agents all over the country that offer the services on how to use it, and they also help the customers to cash the loans.

  • You need a valid Airtel Tigo Number.
  • You also need a valid means of identification.
  • You may need to visit an Airtel Tigo Money office to complete the registration.

How To Apply for Loan For Unemployed In Ghana

It is important to know that loans for the unemployed are actually short-term and unsecured loans. They can be acquired without the need for collateral or credit check. Obtaining this kind of loan is as simple as going to a bank, preferably the one you have an account with, or picking an online lender. You will be required to completely fill out their application forms and submit the necessary documents. 

As mentioned above, some criteria are meant to be put in place if you are not in any paid employment and you want to obtain a loan. 

Firstly, you should be able to provide a strong credit history that can assure lenders that you can responsibly manage your debt, and you should have an alternatively reliable source of regular income even if it is not from a paycheck. 

The alternative source of income could include retirement benefits, investments, spouse’s income, child support, social security benefits, disability income, public assistance, recurring interests, etc.

What You Need To Know About Unemployed Loans In Ghana

A list of top financial institutions offering loans for unemployed in Ghana. There are multiple factors that lenders look out for when borrowers apply for a new loan, and the possibility of paying back is always not left out. Having a stable source of income is often a big consideration, thereby making loans almost unattainable for the unemployed. However, it is very possible for the unemployed to access loans as far as they can provide alternative sources of income.

Not just in Ghana, but all over the world, it is very difficult to provide loans to the unemployed because there is no guarantee of getting the money back. Loans to unemployed people are usually small, and they do not come with collateral.

Another important point to take note of is the fact that in most cases the lenders do not mention the term “unemployed.” That would be tactical suicide because then the program would be abused by hundreds of unemployed people with no intention of repaying said loans.

An important thing to take note of is when the lender offers the loan without demanding to see the receiver’s recent pay slips. Pay slips are an indication of a person being employed; and earning a salary. When a lender offers a loan without demanding to see pay slips then it means that it is open to providing the loan to unemployed people.



In order to qualify for any of these loans, there has to be some kind of lender-customer relationship built over time.

Most of the lenders, such as the mobile communications providers depend on the expectation that the customer will continue to need their services as telephone companies, and that the borrower will pay back the loan so as to continue communicating with friends and business partners.

The loan apps generally provide the credit on a basis of proving bigger loans when the customer pays for smaller ones on time. They usually have a limit on the amount of money they provide to customers.