Financial institutions record over 25 million credit appraisals enquiries within a year

Data from the Banking and Financial Services Regulation Authority shows that Licensed Financial Institutions and Specialized Deposit Taking Institutions received over 25 million enquiries during the 2025 calendar year for credit and facility appraisal purposes. These enquiries covered both individual and business applications seeking new facilities or facility increases.

The figure represents a significant volume of financial activity that reflects how many Ghanaians are actively engaging with formal credit channels. Industry analysts note that traditional banks continue to play a central role, while mobile money platforms and microfinance institutions also contribute meaningfully to the enquiry count across the sector.

The Authority's report emphasises the growing appetite for formal financial solutions among ordinary citizens. This surge in credit appraisals suggests increasing confidence in the regulated financial system, which builds on decades of banking reforms that have improved access and trust since the 1990s.

Going forward, financial experts expect this trend to continue as more Ghanaians seek responsible ways to fund education, expand small businesses, or purchase homes. Ongoing public education on responsible borrowing will be vital as the sector expands its services