The Bank of Ghana has disclosed that over 25 million enquiries were conducted by financial institutions and authorised users for credit application appraisals, loan recoveries, and Know Your Customer purposes in 2025. This represents a 12.12% decrease from the 2024 total of 29,496,440 enquiries. According to the Bank of Ghana, the decline was largely due to a reduction in traditional loan enquiries.
The Bank of Ghana's 2025 Credit Reporting revealed that the upward trend in the use of credit bureau services affirms the importance of the credit referencing system in lenders' credit administration processes. An average of 2,160,089 enquiries were conducted by financial institutions and authorised users monthly, representing a decrease of 12.1% compared to 2,458,037 average monthly enquiries in 2024.
The report, prepared in line with Section 58 of the Credit Reporting Act, 2007 (Act 726), presented a comprehensive overview of key developments in the Credit Reporting System (CRS), statistical trends in credit enquiries and data submissions, the performance of credit bureaus, and the activities of financial institutions and Designated Data Providers (DDPs) during the year 2025.
The Bank of Ghana's report provided clear, data-driven insights for regulators, industry participants, and the public. The report highlighted that banks accounted for 86.28 percent of the total enquiries. This suggests that banks continue to rely heavily on credit bureau services for their credit administration processes.
According to the Bank of Ghana, the decline in enquiries was largely due to a reduction in traditional loan enquiries, which had been the primary driver of enquiry volumes in previous years. However, the growth in digital loans provided by various lenders contributed to the significant increase in the use of credit bureau services.
The 2025 Credit Reporting also revealed that the use of credit bureau services is becoming increasingly important for lenders in Ghana. The report's findings suggest that lenders are relying more heavily on credit bureau services to inform their credit administration processes, particularly in the area of digital loans.
The Bank of Ghana's disclosure of the 2025 Credit Reporting highlights the importance of the credit referencing system in Ghana's financial sector. The report's findings provide valuable insights into the trends and developments in the credit reporting system, and will likely inform policy decisions and industry practices in the sector.
Key points
- Banks accounted for 86.28% of total enquiries for credit in 2025.
- Over 25 million enquiries were conducted for credit appraisals, loan recoveries, and Know Your Customer purposes in 2025.
- The use of credit bureau services is becoming increasingly important for lenders in Ghana.
