Ghana’s credit reporting system recorded more than 25 million enquiries in 2025, highlighting the enormous volume of credit-related checks undertaken across the financial sector even as traditional loan enquiries declined.
The Bank of Ghana, in its 2025 Credit Reporting report, disclosed that financial institutions and other authorised users conducted over 25 million enquiries during the year for credit application appraisals, loan recoveries and Know Your Customer purposes.
The figure represents a 12.12% decline from the 29,496,440 enquiries recorded in 2024. While the reduction signals a slowdown in the overall volume of enquiries, the data also reveals important changes in the way lenders are using credit information.
Credit Enquiries Fall Despite Continued Demand
The decline in credit enquiries was largely attributed to a reduction in traditional loan enquiries, which had been the primary driver of enquiry volumes in previous years.
That development comes at a time when Ghana’s financial sector is experiencing significant changes in how customers access financial services.
Traditional borrowing through bank branches and conventional lending channels is increasingly being complemented by digital platforms. This transformation is changing how lenders interact with customers and how credit information is collected and assessed.
Despite the decline in total enquiries, the Bank of Ghana noted that the continued upward trend in the use of credit bureau services demonstrates the importance of the credit referencing system in lenders’ credit administration processes.
The changing pattern suggests that the value of credit information is increasingly tied not simply to the number of enquiries conducted, but also to the changing structure of lending activity across the economy.
Digital Loans Change Ghana’s Credit Landscape
Digital lending has emerged as one of the major forces reshaping credit activity in Ghana.
The Bank of Ghana stated that “This significant increase is mainly due to growth in digital loans provided by various lenders”.
The growth of digital loans has expanded access to credit beyond traditional banking channels, allowing borrowers to seek financing through digital platforms and other technology-enabled services.
As these lending channels expand, lenders require efficient ways to assess applicants, understand their existing credit obligations and support loan recovery efforts.
Credit bureaus consequently occupy an increasingly important position within the lending ecosystem. Their databases can provide information that financial institutions and authorised users rely on when making credit-related decisions.
The rise of digital lending also introduces a different pace into the credit market. Customers can submit applications digitally, while lenders can process information and make decisions through technology-driven systems.
That environment makes timely and reliable credit information particularly important.
More Than 2 Million Enquiries Every Month
Although the annual number of enquiries declined, the volume of activity remained substantial.
The Bank of Ghana reported an average of 2,160,089 enquiries every month in 2025.
This represented a 12.1% decrease from the average monthly figure of 2,458,037 recorded in 2024.
The monthly numbers nevertheless demonstrate how deeply credit information has become integrated into Ghana’s financial system.
Every month, more than two million enquiries were conducted for purposes ranging from assessing new credit applications to supporting loan recoveries and meeting Know Your Customer requirements.
Such activity places significant importance on the reliability and accessibility of credit reporting infrastructure.
Financial institutions need dependable information when assessing customers, particularly as lending becomes increasingly data-driven and digital channels attract more borrowers.
Banks Account For 86.28% Of Enquiries
Banks remained the dominant users of Ghana’s credit reporting system in 2025.
According to the report, bank enquiries accounted for 86.28% of total enquiries during the year.
The figure underscores the central role banks continue to play in Ghana’s credit market and reflects their extensive use of credit information in lending and related activities.
Credit assessment remains an important part of banking operations, particularly when institutions are evaluating applications, monitoring existing exposures and pursuing loan recoveries.
The high proportion of enquiries attributed to banks also indicates that credit reporting remains closely connected to the formal banking sector, even as digital lenders and other financial service providers expand their presence.
Credit Reporting System Gains Greater Importance
The 2025 figures provide a revealing picture of Ghana’s evolving credit market.
On one hand, total enquiries declined by more than 12%. On the other, digital lending continued to support increased use of credit bureau services, showing that the structure of credit activity is changing.
The Bank of Ghana’s report was prepared in line with Section 58 of the Credit Reporting Act, 2007 (Act 726).
It provides a comprehensive overview of developments within Ghana’s Credit Reporting System, including trends in credit enquiries and data submissions, the performance of credit bureaus, and the activities of financial institutions and Designated Data Providers.
The report therefore offers regulators, financial institutions and other industry participants important data on the direction of Ghana’s credit information ecosystem.
The 25 million-plus enquiries recorded during 2025 ultimately reflect a financial sector undergoing a significant transition. Traditional loan enquiries may have declined, but the continued growth of digital lending is creating new demand for reliable credit information.
As more lenders turn to digital channels and more customers seek financing outside conventional banking processes, credit reporting is likely to remain an important part of how Ghana’s financial institutions assess borrowers, manage risk and administer credit.
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