Banks accounted for 86.28% of all credit enquiries in 2025, maintaining their position as the main users of Ghana’s credit referencing system. This figure came from the 2025 Credit Reporting by the Bank of Ghana, which linked the growth largely to rising mobile money loans and payroll lending.
The report showed that microfinance and microcredit institutions made up 8.47% of credit enquiries in 2025, down from 8.82% in 2024. Savings and loan companies and other lenders also saw a drop in their share of enquiries compared to the previous year.
Credit enquiries break down into applications, credit bureau searches, and loan recoveries. Applications made up 87.21% of total enquiries, searches accounted for 10%, and recoveries were 3%.
The Bank of Ghana noted a sharp increase in credit bureau use for credit monitoring by financial institutions, rising 199.71% from 2024. This surge ties directly to the growth in mobile money lending and payroll loans.
All licensed credit bureaus actively sold credit reports and related services to financial institutions in 2025. They received the same volume and type of data from these institutions, following Bank of Ghana data submission rules. Differences in their offerings depended on how well they met lenders' needs.
The report also detailed the distribution of enquiries among the three licensed credit bureaus but did not give exact figures for each.
Prepared under Section 58 of the Credit Reporting Act, 2007 (Act 726), the report gave a clear view of the credit referencing system’s activity in 2025. It covered trends in enquiries and data submissions, credit bureau performance, and the actions of financial institutions and Designated Data Providers.
The rise in mobile money loans and payroll lending stands out as a major driver behind the increased credit checks. This reflects how lending in Ghana is shifting. Banks still dominate the market, but mobile platforms and payroll systems are shaping how creditworthiness is assessed.
This growth in credit enquiries signals wider access to credit but also raises questions about how well the system can manage risks tied to new loan types. The Bank of Ghana’s report offers a snapshot of these changes as they unfold.
According to Joy Online.
