Story By: Akua Oteng Amponsah
The Bank of Ghana is implementing policy and regulatory reforms to strengthen the legal framework governing its Collateral Registry Department.
The move aims to align the department’s operations with changes in the country’s credit environment.
The Central Bank says the Collateral Registry has become an integral part of Ghana’s financial infrastructure, supporting secured lending and enhancing credit risk management.
First Deputy Governor Dr. Zakari Mumuni highlighted the Bank’s vision for the Registry, saying:
“As we look ahead, our vision for the Registry is ambitious. We are investing in advanced technologies, including artificial intelligence, to enhance the system’s efficiency, security, and user experience. We are also undertaking policy and regulatory reforms to ensure the legal framework remains agile and responsive to the evolving credit landscape.”
Dr. Mumuni added that the Bank will deepen partnerships with institutions to introduce global best practices and technical support.
The Head of the Collateral Registry Department, Fred Asiama Koranteng, outlined the registry’s critical role in supporting micro-, small-, and medium-sized enterprises to access credit.
He reported a significant increase in security interest registrations, from 10,413 in 2010 to 382,215 in 2024.
“The registry registers approximately 9,000 security interests every week. This is not just a statistic. It’s the story of empowerment, of economic opportunity, and of a better future,” he said.
