Nigerian banks gain ground in Ghana's secured lending as local banks surge 112%

Foreign-owned banks controlled 71.1% of Ghana's secured lending in Q2 2026, registering GH¢14.12 billion ($1.245 billion) – a 19.3% rise from the same quarter in 2025. Ghanaian-owned banks posted stronger growth, jumping 112.4% year-on-year to GH¢5.74 billion ($503.3 million). Overall secured credit reached $2.781 billion, up 73.4% year-on-year, with banks accounting for 63.1% of the total. The data comes from the Bank of Ghana's Collateral Registry report published September 20, 2026.

This matters to Nigerian readers because major Nigerian banks – FirstBank, UBA, GTCO, Access Bank and Zenith – operate in Ghana and are counted among foreign-owned institutions. Their presence means the foreign share reflects Nigerian banking activity, signaling expansion opportunities in Ghana's growing credit market. Falling industry lending rates around 10% lower borrowing costs, supporting stronger lending and potential cross-border finance.

What should you know or do? Ghana's collateral registry searches rose 13.9% to 19,518, indicating heightened due diligence and secured-transaction activity. If you are involved in trade, investment, or banking, consider monitoring Ghana's market for partnership or expansion prospects. The rapid growth of Ghanaian-owned banks may increase competition but also demand for complementary services. Will you explore Ghana's banking market for expansion, partnership, or investment given these trends?

SOURCE: https://nairametrics.com/2026/09/23/foreign-owned-banks-dominate-ghanas-secured-lending-market/