Banks accounted for 86% total enquiries for credit in 2025

Banks led the pack in credit-related enquiries in 2025, comprising 86.28% of all such inquiries, according to the Bank of Ghana. This dominance was attributed to the surge in mobile money loans and payroll lending. Microfinance and Microcredit institutions, on the other hand, saw a decline in their share, down from 8.82% in 2024 to 8.47% in 2025.

Other categories like savings and loan companies also experienced a drop in their percentage of credit enquiries. The data also revealed a significant increase in credit bureau searches and loan recoveries, which made up 87.21%, 10%, and 3% of total enquiries respectively. The use of credit bureau services for credit monitoring purposes by financial institutions rose by an impressive 199.71% compared to the previous year, a trend linked to the expansion of mobile money loans and payroll lending.

All licensed credit bureaus played a role in selling credit reports and related services to financial institutions, receiving identical data from these institutions as mandated by the Bank of Ghana. The report detailed the distribution of enquiries among the three licensed credit bureaus, highlighting the diverse range of services they offer to cater to lenders' needs.

The Credit Reporting by the Bank of Ghana complied with Section 58 of the Credit Reporting Act, 2007 (Act 726), offering valuable insights into the credit sector for regulators, industry participants, and the public.