Complaints about inaccurate credit information and delays in updating credit reports nearly doubled in Ghana in 2025, raising questions about the reliability of records lenders use to assess loan applications.
The Bank of Ghana’s 2025 Credit Reporting Activity Annual Report shows that credit bureaus received 3,085 complaints and disputes from customers of financial institutions during the year, up 90.8% from 1,617 in 2024.
The complaints related to inaccurate information on credit reports and delays in updating records, according to the report.
Credit reports contain information about customers’ credit facilities and repayment history. Financial institutions use these records to assess the creditworthiness of prospective borrowers before deciding whether to approve or reject loan applications.
Under the Credit Reporting Act, 2007 (Act 726), financial institutions licensed by the Bank of Ghana are required to obtain credit reports from licensed credit bureaus before making decisions on credit applications.
The central bank said it was working to improve the accuracy and timeliness of credit information submitted by financial institutions and other data providers.
As part of these efforts, the Bank of Ghana is developing a Data Hub for Credit Reporting, expected in 2026. The proposed platform will allow financial institutions and other lenders to submit standardised credit data through the central bank to credit bureaus.
The Bank of Ghana said the system is intended to address challenges that result in late or missed data submissions and improve the quality of credit information.
The report also recorded 25,921,066 credit enquiries in 2025, down 12.12% from 29,496,440 in 2024. Digital loan-related enquiries accounted for 19,943,215, representing 76.94% of all enquiries during the year.
