Ghana’s secured lending landscape is increasingly being shaped by individual borrowers, with new data showing they account for the overwhelming majority of transactions under the country’s collateral registry system.
The Bank of Ghana revealed that out of 1.92 million secured transactions recorded between 2010 and 2025, about 97 per cent involved individuals, highlighting the growing role of personal borrowers in the credit market.
The figures, presented on behalf of Second Deputy Governor Matilda Asante Asiedu at a stakeholder workshop in Accra, also showed that 3.2 million assets had been registered over the period, including nearly two million movable assets—an indication of expanding collateral options beyond traditional fixed assets.
The engagement, organised by the Association of Ghana Industries, focused on deepening understanding of the Borrowers and Lenders Act, 2020 (Act 1052) and its role in strengthening credit delivery systems.
Officials say the registry has helped reduce barriers to financing by enabling borrowers—especially those in underserved sectors—to leverage movable assets to secure loans, thereby improving financial inclusion.
Despite the progress, the central bank acknowledged persistent constraints such as information asymmetry, limited collateral awareness, and enforcement challenges, particularly for private sector actors.
Authorities, however, maintain that ongoing reforms, including enhancements to the secured transactions framework, are aimed at sustaining momentum and ensuring broader access to credit across the economy.
Industry leaders also underscored the importance of regulatory awareness, noting that better understanding of lending laws would empower businesses—especially women entrepreneurs—to negotiate financing more effectively and responsibly.
