Accra: The Bank of Ghana (BoG) reports its collateral registry department has recorded 1,921,000 secured transactions between 2010 and 2025. Of this total, 1.8 million transactions, constituting approximately 97 percent of borrowers, involved individuals, while the remainder included private entities, large organizations, and public institutions.
According to Ghana News Agency, a statement delivered on behalf of Mrs. Matilda Asante-Asiedu, Second Deputy Governor of the Bank, during a sensitization workshop in Accra, highlighted that 3.2 million assets were registered over the 15-year period, including about 2 million movable assets. The event, organized by the Association of Ghana Industries (AGI), aimed to educate members on the Borrowers and Lenders Act, 2020 (Act 1052), and the operations of the collateral registry department.
Mrs. Asante-Asiedu emphasized Ghana's fiscal role in expanding credit access, particularly for the underserved economy. She noted that stakeholder feedback was positive, indicating growing confidence in the country's secured lending ecosystem. The statistics reinforced the Bank's commitment to broaden outreach and ensure secured credit benefits are more widely experienced across the economy.
Despite the private sector's significant role, it still faces challenges in accessing financing, including information gaps between lenders and borrowers, limited collateral options, and weaknesses in enforcement. Mrs. Asante-Asiedu explained that BoG had implemented financial sector reforms and policy interventions to address these challenges and foster credit availability and growth.
A significant initiative was the establishment of a modern secured transactions framework and the updated Borrowers and Lenders Act, 2020 (Act 1052), which clarified the creation, registration, prioritization, and enforcement of security interests. The Act also set up the collateral registry to maintain a platform for registering security interests, conducting searches, and assisting with enforcement in cases of default. Mrs. Asante-Asiedu stated that efforts to strengthen the secured transactions framework would continue to align with dynamic credit markets.
Mr. Kofi Nsiah-Poku, President of AGI, praised BoG for ensuring macroeconomic stability and sustainability, noting that these achievements positively impacted lending rates. He stressed that informed AGI members were better positioned to negotiate responsibly within the legal and regulatory framework on borrowing and lending.
Dr. Grace Amey-Obeng, Chairperson of AGI-Women in Business, expressed that the forum would address critical concerns women faced in accessing credit facilities.