{
  "id": 10850024,
  "title": "Banks accounted for 86% total enquiries for credit in 2025",
  "url": "https://urgent.news/2026/09/30/banks-accounted-for-86-total-enquiries-for-credit-in-2025",
  "topic": "world",
  "section": "World",
  "published": "2026-09-30T03:49:10.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/banks-accounted-for-86-total-enquiries-for-credit-in-2025/"
  },
  "original_language": "en",
  "account": "In 2025, banks dominated credit-related inquiries, accounting for 86.28% of all such requests, according to a report by the Bank of Ghana. This dominance has persisted through the years, driven by the rising number of mobile money loans and payroll lending. Microfinance and Microcredit institutions, on the other hand, saw a slight decline in inquiries, dropping from 8.82% in 2024 to 8.47% in 2025. Searches conducted by savings and loan companies, as well as other entities, also decreased compared to the previous year. The credit enquiries for applications, bureau searches, and loan recoveries amounted to 87.21%, 10%, and 3% respectively. The use of credit bureau services for credit monitoring purposes by financial institutions surged by 199.71% compared to the previous year, a trend attributed to the growth in mobile money loans and payroll lending. All licensed credit bureaus actively participated in selling credit reports and other services to financial institutions. They received and submitted the same number and type of data as required by the Bank of Ghana, as per Section 58 of the Credit Reporting Act, 2007 (Act 726). The report provided a detailed breakdown of how inquiries were distributed among the three licensed credit bureaus, offering valuable insights for regulators, industry participants, and the public.",
  "summary": "According to the 2025 Credit Reporting by the Bank of Ghana, the increasing number of mobile money loans and payroll lending explains the continuous increase in enquiries.",
  "key_points": [
    "Banks accounted for 86.28% of all credit-related inquiries in 2025",
    "Microfinance institutions saw a slight decline in inquiries to 8.47%",
    "Credit bureau services usage surged 199.71% year-over-year"
  ],
  "editors_take": "Banks' continued dominance in credit inquiries solidifies their role as gatekeepers of credit in Ghana, driven by growth in mobile money loans and payroll lending.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Joy Business",
        "title": "Banks accounted for 86% total enquiries for credit in 2025",
        "url": "https://urgent.news/2026/09/30/banks-accounted-for-86-total-enquiries-for-credit-in-2025-10852973",
        "published": "2026-09-30T03:49:10.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}