Ghana's secured credit rose sharply to GH¢31.5 billion in the second quarter of 2026, even as the number of collateral registrations dropped by nearly a third.
Bank of Ghana Collateral Registry data show that the value of registered secured credit increased by 73.4% from GH¢18.2 billion in the same period of 2025.
It was a bigger pool of money spread across fewer transactions. Security interest registrations fell by 32.2% from 135,721 to 92,033, producing what amounts to a “fewer but larger” pattern in the credit market.
Banks drive lending value
Banks remained the dominant source of secured financing, registering GH¢19.9 billion during the quarter. That represented 63.1% of the total.
Their secured lending value grew by 36.6% from GH¢14.5 billion a year earlier. Rural banks also recorded an increase, while credit registered by Savings and Loans Companies declined.
The contrast becomes clearer in the registration numbers.
Savings and Loans Companies recorded 68,871 security interests, down 42.4% from 119,649 in the second quarter of 2025. That decline accounted for much of the overall drop in registrations.
Based on the headline figures, the average value attached to each registration rose from roughly GH¢134,000 to more than GH¢342,000, although individual loan sizes would vary widely.
Strong quarterly expansion
The market also expanded strongly compared with the opening quarter of 2026.
Total secured credit climbed by 57.5% from GH¢20 billion in the first quarter to GH¢31.5 billion in the second. Bank lending alone increased by 21.5% over the three-month period.
The figures do not suggest a broad surge in the number of borrowers using collateral. They point instead to substantially larger financing values being secured through fewer registered interests, with banks carrying most of the weight.
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