The World Bank has called on Ghana to take drastic steps to expand access to finance, warning that without stronger credit systems, businesses will continue to struggle with growth, job creation, and productivity.
In its 2025 Policy Notes, the Bank stressed that improving financial access is not just about lending more money but about building the systems that make lending fair, safe, and sustainable.
At the heart of this push is a call for Ghana to expand the coverage of credit bureaus and collateral registries, tools that help banks and lenders assess whether borrowers are reliable and able to repay loans.
One major challenge in the country’s financial sector is that many small businesses in Ghana are locked out of loans because banks cannot easily assess their risk, or because they lack recognized collateral.
The World Bank argues that by strengthening these registries and credit reporting systems, lenders can reduce uncertainty, expand lending, and support more entrepreneurs.
The Bretton Woods institution maintains that “improving capabilities and expanding coverage of credit bureaus and collateral registries [will} streamline credit risk assessment.”
But this is only one piece of a broader reform package. The Bank’s recommendations also include the promotion of long-term financing by developing financial instruments such as factoring and supply chain financing, giving businesses more stable access to capital instead of short-term, high-interest loans.
In addition, it calls for leveraging guarantee schemes for climate-friendly investments, including the adoption of a green finance taxonomy that directs capital toward sustainable projects like renewable energy and eco-friendly industries.
The World Bank believes that if these reforms are carried out, Ghana’s businesses, especially small and medium enterprises, will have better access to the funds they need to innovate, expand, and hire more workers.
With better credit information, stronger long-term lending options, and green investment tools, Ghana could unlock higher productivity, stronger job growth, and a more resilient economy.
This could mean more stable jobs, faster growth of local businesses, and a financial sector that works for both lenders and borrowers.
