The Governor of the Bank of Ghana (BoG), Dr Johnson Asiama, has restated his ambition to reduce Ghana’s lending rate to no more than 10 per cent by the end of his tenure, underscoring a policy focus on making credit more affordable for businesses and households.

Speaking during a courtesy call by the Asantehene, Otumfuo Osei Tutu II, at the Bank of Ghana on Wednesday, January 7, Dr Asiama said the central bank was carefully balancing the need to protect recent disinflation gains while supporting economic recovery through lower borrowing costs.

“I have said on many occasions that my prayer and wish is that by the end of my four-year tenure, lending rates will not be more than 10 per cent,” he stated, noting that easing market conditions must be achieved without undermining monetary discipline.

Recent data from the Bank of Ghana’s Monetary Policy Report indicate a gradual softening in credit conditions, with average lending rates declining from 26.6 per cent to 24.2 per cent.

Money market yields have also eased, as the 91-day Treasury bill rate fell from 13.4 per cent in July to 10.3 per cent in August 2025.

Dr Asiama further pointed to Ghana’s strengthening external buffers, disclosing that gross international reserves have climbed above $13.8 billion, the highest level recorded in the country’s history.

He assured that the central bank would continue to work closely with the Ministry of Finance and other stakeholders to maintain monetary stability, while expanding access to affordable credit to support growth and economic activity.