Collateral Registry Ghana Launched

The Collateral Registry Ghana, which has been in operation since the first of February, 2010 has been launched in a ceremony in Accra. The Collateral Registry Ghana is the first Secured Transactions Registry (STR) in Africa.

[It] is a body established by Parliament under the Borrowers and Lenders Act, 2008 [Act 773] to principally register charges and collaterals created by borrowers to secure credit facilities provided by lenders. Besides registrations, the Registry also provides information on the existence of relationships between lenders and borrowers as they relate particularly to movable and immovable collateral[s] as well as other ancillary functions. (Bank of Ghana)

Addressing the launch, the Governor of the Bank of Ghana, Dr Kofi Wampah said within three years of it’s establishment, the Collateral Registry has registered a total of “49,096 charges (secured loans) with 104,308 collaterals had been registered. Of these, 80.6 per cent were movable assets, 13.3 per cent were immovable assets and the rest consisted of both movable and immovable types.” He also stated that over 160 foreign and local institutions have accessed the registry for registration and that 14,608 searches have so far been made by various institutions and individuals.

The Collateral Registry Ghana is expected to address some of the challenges in the country’s credit system. The existence of the registry would improve disclosure, for example, lenders would be able to identify if there are any prior charges on collateral offered to them for loans.

Central Banks from around the continent are reported to have sent delegations to the country to study the STR for replication in their countries.


Jerome Kuseh

Accountant | Economist-in-Training | Finance Blogger

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