The Bank of Ghana says its Collateral Registry has significantly improved access to credit, recording over 1.9 million secured transactions between 2010 and 2025.
Out of the 1,921,000 transactions recorded within the period, about 1.8 million representing 97 per cent were made by individual borrowers, while the rest involved private firms, large companies and public institutions.
In total, about 3.2 million assets were registered over the 15-year period, including nearly 2 million movable assets, indicating a growing acceptance of non-traditional collateral in Ghana’s lending market.
The figures were contained in a statement delivered on behalf of Mrs Matilda Asante-Asiedu, Second Deputy Governor of the Bank of Ghana, at a sensitisation workshop in Accra.
The workshop, organised by the Association of Ghana Industries, was aimed at educating members on the Borrowers and Lenders Act, 2020 (Act 1052) and the operations of the Collateral Registry.
Mrs Asante-Asiedu said the data highlighted the important role of the registry in expanding access to credit, especially for individuals and small businesses that often face difficulties meeting traditional collateral requirements.
She noted that the steady growth in secured transactions reflected rising confidence in Ghana’s credit system and the impact of financial sector reforms.
She said the Bank of Ghana remained committed to deepening these gains and expanding access to credit across all sectors of the economy.
Despite the critical role of the private sector in driving growth, she said many businesses continued to face challenges in accessing financing to start and expand operations.
These challenges include limited collateral options, gaps in information between lenders and borrowers and weak enforcement systems.
She said the central bank had introduced reforms to address these issues, including the establishment of a modern secured transactions framework under the Borrowers and Lenders Act.
The Act provides clear guidelines for the creation, registration and enforcement of security interests and helps build trust between lenders and borrowers.
It also established the Collateral Registry as a platform for registering security interests, conducting searches and supporting enforcement in cases of default.
Mrs Asante-Asiedu said the Bank would continue to strengthen the framework to respond to the changing needs of the credit market.
Mr Kofi Nsiah-Poku, President of the Association of Ghana Industries, commended the Bank of Ghana for maintaining stability in the economy, noting that it had positive effects on lending conditions.
He said increased awareness of the legal framework governing borrowing and lending would help businesses make better financial decisions.
Dr Grace Amey-Obeng, Chairperson of AGI Women in Business, said the workshop would help address challenges women face in accessing credit and improve their participation in business.
The Bank of Ghana believes continued reforms in secured lending will help unlock financing for businesses and support economic growth.
