Credit to the public sector contracted by 25.5% to GH¢4.8 billion at the end of December 2025.

This indicates a slowdown in government activities in the year under review.

According to the January 2026 Monetary Policy Report by the Bank of Ghana, private sector credit (comprising credit to private enterprises and households) grew by 19.2% to GH¢106.2 billion in December 2025 compared to a growth of 26.3% in the previous year.

However, in real terms, credit to the private sector slumped in 2025 compared to 2024.

Also, the stock of gross loans and advances increased by 16.2% in December 2025 to GH¢111.0 billion compared to a growth of 24.1% in December 2024.

Distribution of Credit by Sectors

In terms of the distribution of credit by sectors, the services sector remained the largest recipient of the industry’s credit, accounting for a share of 37.1% at the end of December 2025. This was from 31.7% in December 2024.

It was followed by the commerce and finance sector with a share of 24.3% from 27.0 % in December 2024.

The share for the manufacturing sector increased marginally to 10.7% from 10.5% in December 2024. These three sectors constituted 72.1% of total credit in December 2025 compared with 69.3% in December 2024.

The electricity, water and gas sector was the lowest recipient of total credit with a share of 3.0% in December 2025, compared to 4.1% recorded a year earlier.