Bayport Ghana is using the decline in interest rates to make credit more affordable for civil servants, as the savings and loans company seeks to expand its reach among teachers, nurses, doctors and other salaried workers.
Akwasi Aboagye, Chief Executive Officer and Managing Director of Bayport Ghana, says the company’s recent growth has come at a time when falling interest rates have enabled it to reduce the cost of borrowing and serve more customers.
Speaking at the Facts Behind the Figures programme of the Ghana Stock Exchange, Mr Aboagye said the lower pricing was helping address a longstanding challenge in the credit market, where the cost of borrowing has often limited access to formal loans.
“Our ability to reduce our pricing has meant that we are able to serve a lot more customers,” he said.
Credit demand remains strong
According to Mr Aboagye, demand for credit remains significant because many salaried workers rely on loans to meet basic household and personal needs.
He said the opportunity to reduce lending rates therefore goes beyond improving Bayport’s business performance, as it allows more workers to participate in the formal financial system.
“If this business is around for much longer, it means that we will be able to drive the financial inclusion story, which the savings and loans sector was created to do,” he said.
The comments come as Ghana’s financial sector benefits from easing monetary conditions, with lower interest rates gradually reducing the cost of funds for businesses and households.
For Bayport, the opportunity is particularly important because its core customer base consists largely of salaried workers who require relatively small loans to finance everyday needs.
Bayport controls 33% of market
Mr Aboagye attributed Bayport’s expansion not only to market conditions but also to what he described as “corporational discipline”, supported by clear performance strategies.
A major part of that strategy, he said, has been maintaining the confidence of customers and investors who entrust their money to the company.
“When the money has come in, we have used it for the purpose for which the money came, which is increasing our market share within the controller space,” he said.
Bayport currently controls about 33% of its market, according to Mr Aboagye, giving it a significant position in lending to salaried workers.
He said the company intends to build on that position by reaching more teachers and bringing more people into the formal financial system.
GSE sees customer focus as key
Ghana Stock Exchange Managing Director Abena Amoah also highlighted Bayport’s focus on customers, describing the company as a people-centred organisation.
She said the company’s focus on providing financial support to workers, particularly teachers, was important to broader efforts to tackle inequality and promote economic empowerment.
Her comments underline the wider role of financial institutions in helping workers access capital for education, household needs and other investments that can improve their economic circumstances.
GSE pushes deeper capital-market participation
Ms Amoah also used the occasion to highlight improving activity on Ghana’s capital market, pointing to stronger equity market performance and increased activity in fixed-income securities.
She said the market had already recorded GH¢281 billion in volume created during 2026, compared with GH¢1.145 trillion for the whole of 2025, while stressing the importance of new issuances in deepening the market.
She also pointed to the recent pace of initial public offerings, noting that the GSE had facilitated three IPOs within six months and was preparing for another listing by WeShare.
For Bayport, the GSE platform therefore provided an opportunity not only to explain its business performance but also to position its lending model within a broader financial market that is seeking to expand access to capital.
