Lending rates fall to 15.78% as private sector credit growth hits 26.42% – BoG

Bank of Ghana Governor Dr. Johnson Pandit Asiama has highlighted improvements in Ghana’s credit conditions, citing a decline in average lending rates and stronger growth in real private sector credit.

Speaking at the launch of the maiden edition of Ghana in Numbers 2025 in Accra on Thursday, October 29, Dr. Asiama said average lending rates had declined from 30.25% in December 2024 to 15.78% in September 2026.

He also disclosed that growth in real private sector credit had increased from 0.20% in December 2024 to 26.42% in September 2026.

“These gains are also reflected in improved credit conditions, among others,” he said.

Dr. Asiama said inflation had remained in single digits for 13 consecutive months, while the exchange rate was relatively stable despite external pressures.

“From the perspective of the Bank of Ghana, one important dimension of youth development is the role of a stable macroeconomic environment and a well-functioning financial system in supporting access to finance and productive economic activity,” he stated.

The governor said the developments reflected the outcomes of the central bank’s macroeconomic management efforts over the past couple of years.

He added that the Bank of Ghana was pursuing initiatives to improve financial inclusion and make formal financial services more accessible, affordable and convenient, particularly for young people, women, micro, small and medium-sized enterprises, and underserved communities.

Dr. Asiama made the remarks during the launch of the report, whose maiden edition focuses on “Youth and the Demographic Transition”.

The launch brings together official socioeconomic data intended to help policymakers, businesses, researchers and the public assess Ghana’s development and inform decisions.