In a bold step toward revolutionising access to finance for Ghana’s micro, small, and medium-sized enterprises (MSMEs), the Bank of Ghana has announced plans to digitally integrate its Collateral Registry with national credit and identity platforms.
This initiative, officials say, is designed to eliminate long-standing barriers to credit access — particularly for businesses unable to pledge traditional land-based assets.
Mrs. Matilda Asante-Asiedu, the Bank’s Second Deputy Governor, revealed the ambitious roadmap during the 15th-anniversary celebration of the Collateral Registry Department. In a speech delivered on her behalf by Dr. Settor Amediku, she emphasised that integrating the Registry with digital identity systems, credit bureaus, and e-government platforms would support real-time, data-driven lending decisions.
“The goal is to build a fully interoperable financial infrastructure that supports inclusive finance and innovation,” she said.
The move is expected to address Ghana’s enduring challenge of collateral-related credit exclusion, especially in the MSME sector, where many businesses rely on movable assets such as vehicles, inventory, equipment, or even livestock. The establishment of the Registry in 2008 aimed to change that — and the latest reforms aim to deepen its reach and impact.
Fred Asiama Koranteng, Head of the Collateral Registry Department, underscored the game-changing role the Registry has played so far. Since 2010, registered security interests have surged from just over 10,000 to 1.4 million by the end of 2024 — a remarkable 31.5% annual growth rate.
“Let’s use this moment to reimagine a more inclusive, efficient lending environment,” Mr. Koranteng said, calling for stronger collaboration among regulators, financial institutions, and the private sector.
Beyond simply registering collateral, the Registry has significantly boosted lender confidence, making it easier to enforce security interests — sometimes without even going to court — and reducing information asymmetry between borrowers and lenders. This has made lending decisions more transparent, efficient, and risk-informed.
Panellists at the event echoed similar sentiments, calling the Registry a key enabler of business-friendly finance. They lauded its role in streamlining the process of registering and enforcing security interests, which previously posed serious bureaucratic hurdles.
Mrs. Asante-Asiedu praised the collective efforts of law firms, banks, development partners, and borrowers in transforming the Registry into a trusted national asset and urged them to back the next phase of its evolution.
As Ghana’s financial system leans more heavily into digitisation, the integration of the Collateral Registry is shaping up to be a pivotal step in ensuring that even the smallest business owners have equitable access to credit — powered by data, trust, and innovation.
