Governor of the Bank of Ghana, Dr. Johnson Asiama, has hailed the Collateral Registry as a game-changer in Ghana’s financial sector, crediting it with significantly improving access to finance for Micro, Small, and Medium-Sized Enterprises (MSMEs).

Speaking at the 15th anniversary celebration of the Collateral Registry held in Accra on June 11, 2025, Dr. Asiama emphasized that the registry has revolutionized credit access by enabling businesses to use movable assets as collateral.

This innovation, he noted, has opened up new lending opportunities for traditionally underserved groups, spurring job creation, business expansion, and broader economic development.

“The registry is more than a database—it’s a tool of empowerment,” Dr. Asiama stated. “By allowing those previously excluded from formal credit systems to leverage their assets, we’ve made real progress in building a more inclusive financial ecosystem.”

He highlighted the registry’s critical role in closing the information gap between lenders and borrowers, helping financial institutions make more informed decisions while increasing transparency in the lending process.

Dr. Asiama also reflected on the progress made since the registry’s establishment in 2010, pointing out that prior to its creation, stringent collateral requirements and fragmented regulatory frameworks posed major barriers to accessing credit, particularly for small businesses.

Today, he said, the Collateral Registry stands as a testament to financial innovation, promoting equitable access to credit and contributing meaningfully to Ghana’s economic growth.

The registry’s influence, he added, extends well beyond the traditional banking sector, reinforcing efforts to democratize finance and empower local entrepreneurs across the country.