The Bank of Ghana (BoG) is urging commercial banks to take advantage of the country’s improving economic conditions by increasing access to financing for small and medium-sized enterprises (SMEs) and the agricultural sector.
The central bank’s call comes as private-sector credit growth continues to recover strongly, although financial institutions remain cautious about lending to some of the economy’s most productive sectors.
Speaking at the Heads of Banks Meeting on Wednesday, August 12, 2026, the Governor of the Bank of Ghana highlighted the significant improvement in credit growth to businesses and individuals.
According to the Governor, private-sector credit increased by 41.20% in June 2026, compared with just 8.60% recorded during the same period a year earlier.
When adjusted for inflation, real credit to the private sector grew by 34.10%, representing a major improvement in lending conditions following a prolonged period of tight financial conditions.
The Bank of Ghana is encouraging banks to ensure that the recovery in credit growth translates into increased funding for SMEs, agriculture, businesses and other productive areas of the Ghanaian economy.
Greater access to affordable business loans and agricultural financing could help boost private-sector investment, job creation, economic growth and entrepreneurship across the country.
The central bank’s position reflects its broader focus on ensuring that Ghana’s improving macroeconomic stability supports sustainable economic activity and greater access to finance.
Source: newsthemegh.com