In a keynote address marking the 15th anniversary of Ghana’s Collateral Registry, the Bank of Ghana reviewed how the registry has reshaped secured lending by improving transparency around pledged assets and enabling borrowers, including smaller firms, to access credit using movable collateral. The remarks also set out intended next steps to modernise the registry’s technology and supporting legal and regulatory framework. The Collateral Registry was established in February 2010 under the Borrowers and Lenders Act, 2008 (Act 773), later replaced by the 2020 Act (Act 1052), to address fragmented secured credit rules and limited visibility over collateral. A centralised platform for registering and searching both movable and immovable assets enables lenders to verify in real time whether an asset has been pledged, supporting credit risk management. Enforcement processes were described as having been streamlined through the issuance of a Memorandum of No Objection, with over 4,450 certificates issued to date. Looking ahead, the Bank of Ghana signalled investment in advanced technologies, including artificial intelligence, and further policy and regulatory reforms. It also indicated plans to deepen collaboration with the Driver and Vehicle Licensing Authority, the Office of the Registrar of Companies, the Lands Commission, the International Finance Corporation and the Swiss State Secretariat for Economic Affairs.
Bank of Ghana 2025-06-11
Bank of Ghana outlines AI upgrades, legal reforms and expanded partnerships for the Collateral Registry
In a keynote address, the Bank of Ghana highlighted the transformative impact of Ghana’s Collateral Registry on secured lending, enhancing transparency and credit access through movable collateral. Established in 2010, the registry centralizes asset registration, aiding lenders in real-time verification and credit risk management. Future plans include technological upgrades and regulatory reforms, with increased collaboration with national and international bodies.