The total value of secured credit advanced and registered in Ghana reached GHS 31.5 billion in the second quarter of 2026. This figure represents a significant 73.4% year-on-year expansion, as reported by the Bank of Ghana in its Second Quarter Brief on the 2026 Collateral Registry.
This substantial increase from GHS 18.2 billion in the second quarter of 2025 highlights a growing reliance on collateral-backed lending across the Ghanaian economy. The expansion was primarily driven by banks, which accounted for GHS 19.9 billion, or 63.1%, of the total secured credit value. This banking sector contribution itself grew by 36.6% from GHS 14.5 billion recorded in the same period of 2025, indicating strong credit activity.
The surge in secured lending reflects a broader trend of financial institutions seeking to mitigate risk in a dynamic economic environment. This growth also suggests increased business activity and investment, as companies and individuals seek financing for various ventures. The Bank of Ghana's data provides crucial insight into the health and risk appetite of the country's financial sector, which is a key pillar of Ghana's economic stability and growth trajectory. The overall increase in secured credit from GHS 19.9 billion in Q1 2026 to GHS 31.5 billion in Q2 2026 also shows a 57.5% quarter-on-quarter rise, demonstrating accelerating momentum.
The Bank of Ghana's report underscores the continued dominance of foreign-controlled banks in this segment of the market. These institutions registered GHS 14.1 billion, representing 71.1% of all secured credit from banks. This marks a 19.3% increase over their GHS 11.8 billion contribution in the second quarter of 2025. Indigenous Ghanaian banks also showed strong growth, registering GHS 5.7 billion, a significant 112.4% increase from GHS 2.7 billion in the second quarter of 2025. This indicates a positive development for local financial institutions, despite the foreign dominance.
The implications of this robust growth in secured lending are multifaceted. It suggests that financial institutions are confident in the collateral available, which can include real estate, equipment, or other assets, thereby reducing perceived lending risks. This trend could lead to increased access to finance for businesses and individuals, potentially stimulating economic growth and investment. Policy makers and regulators will closely monitor these figures to ensure financial stability and to assess the effectiveness of current credit policies. The continued expansion of secured credit will be a key indicator for Ghana's economic outlook in the coming quarters, influencing investment decisions and market confidence.
The data also reveals that other lenders contributed GHS 8.3 billion, making up 26.3% of the total secured credit value. While banks and Rural and Community Banks saw increases of 21.5% and 12.2% respectively between Q1 and Q2 2026, Savings and Loans, Micro Finance Institutions, and Micro Credit Institutions experienced declines. This divergence suggests varying performance and risk profiles across different types of financial institutions. The Bank of Ghana will likely continue to monitor these trends to ensure a balanced and resilient financial sector. The robust growth in secured lending is a positive signal for Ghana's financial sector, indicating both increased economic activity and a structured approach to managing credit risk.