Financial institutions and authorised users in Ghana made over 25 million credit enquiries in 2025, according to the Bank of Ghana’s annual Credit Reporting report. This figure covers checks done for credit application appraisals, loan recoveries, and Know Your Customer (KYC) purposes.
The 2025 total of 25,000,000 enquiries shows a 12.12% drop from the 29,496,440 enquiries recorded in 2024. The Bank of Ghana linked this decline mainly to fewer traditional loan enquiries, which had previously driven the volume of credit checks. Despite this, the use of credit bureau services is growing thanks in part to the rise of digital loans offered by various lenders.
The report said this growth in digital lending has affirmed the importance of credit referencing systems in managing credit risks. It noted, “This significant increase is mainly due to growth in digital loans provided by various lenders.”
On average, financial institutions and authorised users conducted about 2,160,089 credit enquiries per month during 2025. This monthly average fell 12.1% compared to the 2,458,037 average monthly enquiries in 2024. Of all the credit checks carried out, bank enquiries made up 86.28% of the total, showing that banks remain the dominant users of credit bureau services.
The Bank of Ghana’s report was prepared under Section 58 of the Credit Reporting Act, 2007 (Act 726). It provides data on credit reporting system developments, credit enquiry trends, data submissions, credit bureau performance, and the activities of financial institutions and Designated Data Providers (DDPs) throughout 2025.
This data-driven overview aims to give regulators, industry participants, and the public clear insight into how credit information is being used in Ghana’s financial sector. It also reflects how lending practices are shifting, especially with the growing role of digital loans.
The decline in traditional loan enquiries may relate to changing borrower behaviour or stricter lending criteria, but the report does not specify causes beyond the growth in digital lending. It remains clear that credit reporting and referencing continue to play an important role in credit administration across the country.
This shift towards digital loans and the associated credit checks highlights how Ghana’s financial institutions are adapting to new technology and customer demand. The data points to ongoing changes in how loans are accessed and managed, with digital platforms becoming more prominent in the credit market.
According to Joy Online.
