BoG Governor hails Collateral Registry as game-changer for credit access
Speaking through a keynote address delivered on his behalf by First Deputy Governor Dr Zakari Mumuni in Accra, Dr Asiama said the Registry had significantly improved access to credit by allowing borrowers to use movable assets — such as vehicles, stock, or equipment — to secure loans.
The Governor of the Bank of Ghana, Dr Johnson Pandit Asiama, has praised the Collateral Registry as a “quiet but powerful enabler” of financial inclusion and enterprise in Ghana, as the institution marked its 15th anniversary on Wednesday.
Speaking through a keynote address delivered on his behalf by First Deputy Governor Dr Zakari Mumuni in Accra, Dr Asiama said the Registry had significantly improved access to credit by allowing borrowers to use movable assets — such as vehicles, stock, or equipment — to secure loans.
“Fifteen years ago, access to credit was a distant hope for many small business owners. Today, because of the work we celebrate here, more Ghanaians can secure financing with movable assets,” the statement read.
Established in 2010 under the Borrowers and Lenders Act, the Registry was created to address a fragmented system that hindered secured lending and left many micro and small businesses financially excluded. That law was later replaced by Act 1052 in 2020.
The Registry has since become a cornerstone of Ghana’s financial infrastructure, offering a transparent, centralised system for lenders to register and verify collateral in real time — reducing information asymmetry and lending risk.
“The ability to register and search for collateral has improved credit risk management. Lenders make more informed decisions and borrowers face more predictable, fairer processes,” Dr Mumuni said.
The Bank of Ghana also highlighted how the Registry has helped streamline loan enforcement procedures. More than 4,450 “Memoranda of No Objection” have been issued, allowing lenders to recover pledged assets without lengthy court processes.
Crucially, the system has opened doors for micro, small, and medium-sized enterprises (MSMEs) to access credit without owning land or buildings.
“By unlocking access to credit for underserved groups, the Registry has contributed meaningfully to job creation, business resilience, and local economic growth,” the Governor’s statement noted.
Looking ahead, the Bank announced plans to upgrade the Registry with artificial intelligence and enhanced digital tools. It also pledged deeper collaboration with institutions such as the Driver and Vehicle Licensing Authority (DVLA), the Lands Commission, and international development partners including the IFC and SECO of Switzerland.
“As we mark this 15-year milestone, we must recommit to a future where credit access is not a privilege, but a pathway to opportunity — for every entrepreneur, every farmer, every innovator,” Dr Asiama’s message concluded.
Asaase Broadcasting Company airs on Asaase 99.5 Accra, Asaase 98.5 Kumasi, Asaase 99.7 Tamale, Asaase 100.3 Cape Coast, AsaasePa 107.3 (Accra).
Affiliates: Azay FM 89.1 (Takoradi), Bawku FM 101.5, Bead FM 99.9 (Bimbilla), Mining City Radio 89.5 (Tarkwa), Nyatefe Radio 94.5 (Dzodze), Somuaa FM 89.9 (Gushegu), Stone City 90.7 (Ho) and Wale FM 106.9 (Walewale).
Listen online: asaaseradio.com, Sound Garden and TuneIn.
Follow us:
X: @asaaseradio995, @Asaase985ksi, @Asaase997tamale, @asaase1003, asaasepa1073
Instagram: asaaseradio99.5, asaase985ksi, asaase100.3, asaase99.7tamale, asaasepa107.3
LinkedIn: company/asaaseradio995. TikTok: @asaaseradio99.5
Facebook: asaase99.5, asaase985ksi, Asaase100.3, asaase99.7, AsaasePa107.3.
YouTube: AsaaseXtra.
Join the conversation. Accra: call 020 000 9951/054 888 8995, WhatsApp 020 000 0995. Kumasi: call 059 415 7985 or call/WhatsApp 020 631 5260. Tamale: call/WhatsApp/SMS 053 554 6468. Cape Coast: call/WhatsApp 059 388 2652.
#AsaaseRadio
#AsaasePa
#TheVoiceofOurLand
