Total net credit flows declined to GH¢8.660 billion in August 2025, compared with GH¢14.247 billion recorded in August 2024.

The decline was driven primarily by reduced credit to the public sector, alongside a moderation in private sector credit flows as banks reallocated portfolios toward Government and Bank of Ghana securities.

This was captured in the 2025 September 2025 Monetary Policy Report.

Also, private sector credit flows amounted to GH¢10.710 billion in August 2025, down from GH¢14.319 billion in August 2024.

Despite this slowdown, the private sector remained the dominant recipient of credit, accounting for 95.5% of total outstanding credit in August 2025, compared with 92.7% a year earlier.

By sectoral distribution, credit flows were concentrated in the services (68.2%), commerce and finance (23.8%) and manufacturing (23.0%) sectors.

The outstanding private sector credit was GH¢91.028 billion at end-August 2025, compared to GH¢80.318 billion at end-August 2024.

In real terms, the private sector credit recorded a modest expansion of 1.7%, as against a contraction of 1.1% over the same period in 2024.

The growth in real sector private sector credit was, however, slightly above trend, with the deviation from trend widening marginally in August 2025, compared to the previous year.