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Ghana’s Customers enquiry on credit history hits ₵2.8m in the financial sector

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By Isaac Newton Tetteh –

Ghana’s Central Bank, the Bank of Ghana has hinted that the Customers enquiry on credit history has hit a whopping 2.8m Ghana cedis according to the 2019 Credit Referencing Bureau report

It said credit-referencing activities grew by 7% translating to over 2.8 million in 2019.

The consistent increase in the use of credit bureau services, the Central Bank, said reaffirms the importance of the credit referencing system in the credit administration processes of lenders.

The year under review witnessed a surge in the number of complaints received by the Bank of Ghana and financial institutions in relation to credit reports on customers credit history issued by credit bureaus.

These complaints the report said is related to customers of defunct financial institutions who had adverse information on their credit reports, either due to nonpayment of previous loans or reports not updated by respective defunct institutions.

The complaints the report further said are an indication of effective use of the credit referencing system by lenders as affected customers were denied new credit facilities by lenders for having adverse reports.

The increasing number of complaints may also be due to increased awareness of the credit referencing system by the general public.

The report noted that the Bank of Ghana in collaboration with the Receivers of the defunct lenders resolved complaints relating to the incomplete credit reports.

The increased complaints also resulted in some affected customers settling their previous indebtedness with the Receivers.


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