The Commerce and Finance sector accounted for the highest share of secured loans of 31.15% in second quarter of 2023, the Second Quarter 2023 Collateral Registry Report from the Bank of Ghana has revealed.

The Electricity, Gas and Water sectors followed with 28.8%, whilst the Services sector had aa share of 15.2%.

The Construction, Transport and Haulage, and the Manufacturing sectors had shares of 7.5%, 6.4% and 4.4% respectively.

The lowest recipients of secured loans were Agriculture, Forestry and Fishing sector with 1.6%, Mining and Quarrying sector (1.5%), Cottage Industries sector (0.1%) and Information & Communications (0.02%).

A total of 81,180 assets were registered as collateral in the second quarter of 2023, a decrease from the 81,242 assets registered in the second quarter of 2022 and an increase from 79,364 recorded in quarter one 2023.

Movable assets account for largest share of registered collateral

Movable assets constituted the largest proportion of the registered collateral for loans granted within the reporting period with a share of 68.6%.

Immovable collateral constituted the lowest proportion of registered collateral for loans granted within the reporting period with a 2.0% share. Both Immovable and Movable (e.g., Company/Business Assets) collateral accounted for 29.4% of the total number of collaterals registered.

The major collateral types used to secure loans were cash and inventories/stock of goods.

The Registry recorded increased use of its services in the second quarter of 2023 compared with the same period in 2022.

Volumes of collateral registration and discharges showed appreciable increases and patronage of the Registry’s services also picked up within the review period.