Foreign-Owned banks dominate Ghana’s secured lending market

Foreign-owned commercial banks dominated Ghana's secured lending market in Q2 2026, controlling 71.1% of GH¢19.86 billion ($1.757 billion) in secured credit, according to the Collateral Registry Department of the Bank of Ghana. The report, published on September 20, 2026, revealed that foreign-owned banks registered GH¢14.12 billion ($1.245 billion) during the quarter, marking a 19.3% year-on-year increase from GH¢11.84 billion ($1.042 billion) in the same period of 2025.

In contrast, Ghanaian-owned banks registered GH¢5.74 billion ($503.3 million) secured credit, reflecting a stronger 112.4% annual growth from GH¢2.70 billion ($238.4 million) in the same period last year. While foreign-owned banks maintained their lead in secured lending, Ghanaian-owned banks exhibited significantly faster annual growth.

The surge in lending activity was driven by declining interest rates across Ghana's banking industry, with industry lending rates reported at around 10%, potentially boosting borrowing and credit activity. The easing monetary conditions, lower borrowing costs, and continued involvement of foreign-owned institutions have collectively shaped Ghana's banking sector dynamics.

Additionally, the 13.9% rise in collateral registry searches suggests greater activity in secured lending and credit due diligence. Despite foreign-owned banks retaining the largest share of secured lending, the robust 112.4% annual growth in Ghanaian-owned banks underscores a notable expansion in their lending activities. Consequently, the latest figures indicate a growing Ghanaian credit market, buoyed by lower interest rates, with foreign-owned banks maintaining their dominant position in secured lending while domestic banks recorded faster year-on-year growth.