By Kodjo Adams
Accra, April 24, GNA – The Bank of Ghana (BoG) says its collateral registry department has recorded 1,921,000 secured transactions between 2010 and 2025.
Of the total, 1.8 million transactions, representing about 97 per cent of borrowers, were individuals, while the remainder involved private entities, large organisations and public institutions.
A statement delivered on behalf of Mrs Matilda Asante-Asiedu, Second Deputy Governor of the Bank, at a sensitisation workshop in Accra, indicated that 3.2 million assets had been registered over the 15-year period, including about 2 million movable assets.
The workshop, organised by the Association of Ghana Industries (AGI), was to educate members on the Borrowers and Lenders Act, 2020 (Act 1052), and the operations of the collateral registry department.
Mrs Asante-Asiedu said the statistics underlined Ghana’s fiscal role in broadening access to credit, particularly for the underserved economy.
She noted that stakeholder feedback was encouraging and demonstrated growing confidence in the country’s secured lending ecosystem.
Mrs Asante-Asiedu stressed that the figures strengthened the Bank’s resolve to deepen gains, expand outreach and ensure the benefits of secured credit were felt more broadly across the economy.
Despite the private sector’s critical role, she said, it continued to face challenges in accessing financing, including information gaps between lenders and borrowers, limited collateral options and weaknesses in enforcement.
Mrs Asante-Asiedu explained that BoG, through financial sector reforms and policy interventions, had taken steps to address these challenges and created an innovative environment for credit availability and growth.
One key initiative, she said, was the establishment of a modern secured transactions framework and the updated Borrowers and Lenders Act, 2020 (Act 1052), which had brought clarity to the creation, registration, prioritisation and enforcement of security interests.
The Act also established the collateral registry to maintain a platform for registering security interests, conducting searches and assisting with enforcement in cases of default.
“We will continue to strengthen the secured transactions framework and ensure that the Act evolves to the dynamic credit markets,” she said.
Mr Kofi Nsiah-Poku, President of AGI, commended BoG for ensuring macroeconomic stability and sustainability, noting that these gains had a positive impact on lending rates.
He said knowledge was empowerment, and when AGI members were well informed about the legal and regulatory framework on borrowing and lending, they were better positioned to negotiate responsibly.
Dr Grace Amey-Obeng, Chairperson of AGI-Women in Business, said the forum would help address critical concerns women faced in accessing credit facilities.
GNA
Edited by Kenneth Sackey