The Association of Ghana Industries (AGI) is appealing for a clearer and more predictable regulatory guidelines to improve access to credit for businesses, warning that ambiguities in the current lending framework continue to constrain growth.

President of the association, Kofi Nsiah-Poku, says while efforts to deepen financial access are commendable, inconsistencies in the secured lending regime are limiting the ability of businesses particularly small and medium enterprises to fully benefit from available credit opportunities.

“We need clearer rules and stronger alignment between financial institutions and regulators to ensure businesses can access credit without unnecessary bottlenecks,” , he demanded.

“There must be mutual accountability in the lending space so that both lenders and borrowers can operate with confidence.” he said.

His comments come as the Bank of Ghana ramps up efforts to enhance access to secured credit, insisting that recent macroeconomic gains must translate into real financing opportunities for businesses.

According to data from the central bank, Ghana’s Collateral Registry has recorded over 1.92 million secured transactions between 2010 and 2025, with an average of about 9,000 security interests registered weekly highlighting increased utilisation of the platform.

Advisor to the Governor of the Bank of Ghana, Franklin Belnye, speaking on behalf of the Second Deputy Governor at a sensitisation workshop on the Borrowers and Lenders Act 2020, described the Collateral Registry as a critical tool in transforming Ghana’s credit ecosystem.

“The Collateral Registry is central to our efforts to build a more inclusive and efficient credit system,” he noted.

“As macroeconomic conditions improve, it is important that these gains translate into real access to financing for businesses across all sectors.”

He added that strengthening the secured transactions framework remains key to unlocking financing for businesses, particularly at a time when many firms continue to grapple with access to affordable credit.

The central bank maintains that deepening credit access through reforms in secured lending will be crucial in driving private sector growth and sustaining the country’s economic recovery.