BoG invites institutions to join credit reporting system

The Bank of Ghana (BoG) has invited a broad range of institutions to participate in the country’s Credit Reporting System (CRS).

This, they say, forms part of efforts to strengthen credit information sharing and improve lending decisions.

In Notice No. BG/GOV/SEC/2026/06, the central bank emphasised that several categories of organisations are mandated to join the credit reporting framework under the Credit Reporting Regulations, 2020 (L.I 2394).

The notice builds on an earlier announcement, Notice No. BG/GOV/SEC/2021/13, which expanded the scope of institutions required to submit credit-related data.

According to the central bank, the directive covers telecommunication firms, utility companies, retailers, mobile money operators, financial technology companies, and government institutions providing credit to Micro, Small and Medium Enterprises (MSMEs). It also includes entities that issue identification documents, suppliers offering goods or services on instalment or post-paid arrangements, and public and private student loan schemes.

The Bank of Ghana noted that other organisations holding relevant credit-related data may also be required to participate if their information aligns with the permissible purposes of credit bureaus.

“The Credit Reporting System (CRS) is a framework established under the Credit Reporting Act, 2007 (Act 726) to promote the sharing of credit information of debtors with lenders and other users of the CRS,” the notice stated.

It highlighted the benefits of the system to both lenders and borrowers. “Credit information sharing is beneficial to both lenders and borrowers/debtors as it helps lenders/creditors to better assess the credit risk of each borrower/debtor,” the notice explained.

The central bank urged all institutions within the identified categories or engaged in credit-related activities to formally enrol in the system.

“By this Notice, the Bank of Ghana wishes to reiterate the call for all institutions belonging to the above listed categories or engaged in any form of credit business to contact any of the three licenced credit bureaus,” the notice added.

The three credit bureaus currently licensed to operate in Ghana are XDS Data Ghana Limited, Dun & Bradstreet Credit Bureau Limited, and My Credit Score Limited. Institutions may also submit requests to participate directly to the Financial Stability Department of the Bank of Ghana.

Joining the CRS allows organisations to access detailed information about the credit history and repayment behaviour of their clients before extending loans or other credit facilities. “Participation will allow institutions to obtain information on the credit behaviour and repayment history of their clients prior to establishing credit relationships while ensuring that the information they provide to the CRS on their customers’ credit behaviour helps other creditors make prudent credit decisions,” the notice said.

The Bank of Ghana encouraged institutions needing further clarification to contact its Financial Stability Department at Bank Square in Accra.

The notice, signed by Acting Secretary Aimee Vyda Quashie, was issued on February 5, 2026, as part of the regulator’s continued effort to promote transparency, accountability, and stronger credit risk management within Ghana’s financial system.