Ghana: BoG to Publish, Blacklist Loan Defaulters - -Second Deputy Governor

3 December 2025
Ghanaian Times (Accra)

The Bank of Ghana (BoG) has announced that individuals who borrow from financial institutions and fail to repay their loans will soon have their names published and be blacklisted, preventing them from accessing future credit. The measure, disclosed by BoG's Second Deputy Governor, Mrs Matilda Asante-Asiedu, aims to deter intentional loan defaults and promote a culture of responsible borrowing.

Mrs Asante-Asiedu revealed the policy during a sensitisation programme on the Borrowers and Lenders Act, organised by the Bank's Collateral Registry Department in collaboration with the Ghana National Chamber of Commerce and Industry (GNCCI). She explained that non-payment of loans contributes to high interest rates and restricts access to finance for businesses seeking to expand or operate efficiently.

Under the Bank's Non-Performing Loans (NPL) Directives, financial institutions are required to strengthen loan collection activities, while borrowers are encouraged to meet their repayment obligations to maintain healthy credit records. Mrs Asante-Asiedu emphasised that clear communication of loan terms, disclosure requirements, and collateral expectations is essential to avoid disputes and promote transparency.

Mr Fred Asiamah-Koranteng, Head of the Collateral Registry, described the sensitisation as the first in a series of four sessions aimed at educating lenders and borrowers on the Act and the operations of the Registry. He encouraged participants to raise concerns to ensure clarity and redress where necessary.

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The President of GNCCI, Mr Stephen Miezen, praised the BoG for improving access to credit and fostering fairness in commercial transactions. He highlighted the importance of financial literacy and responsible borrowing in reducing loan defaults and stressed that affordable credit should remain accessible to drive business growth. Mr Miezen reaffirmed the Chamber's commitment to advocating reforms that enhance transparency, credit access, and sustainable enterprise development.

BY KINGSLEY ASARE

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