Ghana’s registered secured credit rose 73.4% year-on-year to GHS31.48 billion in the second quarter of 2026, even as the number of security interest registrations fell sharply, highlighting a widening gap between the volume and value of collateral-backed lending.
Data from the Bank of Ghana’s Collateral Registry showed 92,033 security interest registrations in the April-June period, down 32.2% from 135,721 a year earlier.
The decline was driven largely by Savings and Loans companies, whose registrations fell 42.4% to 68,871. The total also slipped 4.5% from the first quarter, when 96,343 registrations were recorded.
Despite the drop in registrations, the value of secured credit increased from GHS18.15 billion in the second quarter of 2025, with banks accounting for the largest share of the total.
Banks registered GHS19.86 billion in secured credit, representing 63.1% of the total and a 36.6% increase from a year earlier. Another GHS8.29 billion was recorded under the Registry’s “Other lenders” category, which had no comparable figure for Q2 2025.
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The figures suggest that larger credit transactions may be contributing to the increase, although the report does not explain how much of the growth reflects new lending or changes in registration patterns.
Construction accounted for the largest share of registered secured credit by sector, at GHS9.89 billion, up from GHS989.2 million a year earlier. Commerce and Finance followed with GHS8.10 billion, while Services recorded GHS4.36 billion, a 154.8% increase.
Large enterprises received GHS13.76 billion, representing 43.9% of the total. Secured credit registered for small and medium-sized enterprises rose 28.9% year-on-year to GHS3.85 billion, although it fell 48.2% from the previous quarter.
The Registry also recorded a sharp increase in discharges, which rose to 107,836 from 14,183 a year earlier. Savings and Loans companies accounted for 102,229 of the discharges.
Discharges relate to the removal of registered security interests when the relevant legal conditions have been met, including the settlement of secured obligations. The report does not provide a detailed breakdown explaining the unusually large increase.
Meanwhile, searches on the Registry’s system rose 13.9% year-on-year to 19,518, suggesting greater use of the platform for credit checks. Savings and Loans companies accounted for the largest share, with 12,397 searches.
The Registry said increased searches may be linked to its sensitisation and training activities, which are intended to improve awareness and use of the system.
