Ghanaian banking sector sees credit rise amid industrial financing concerns

In Ghana, total bank advances rose 38.6 percent to GH¢124.3 billion in June 2026, with private-sector credit expanding by 41.2 percent. However, there are concerns regarding the allocation of these funds. As of the end of 2025, manufacturing accounted for 11.1 percent of outstanding private-sector credit, while agriculture, forestry, and fisheries received only 4.5 percent.

With interest rates declining—the average lending rate dropped from 27 percent in June 2025 to 15.64 percent in June 2026—banks are seeking alternative earning assets. There is a risk that capital may shift toward consumer loans and short-term commercial financing rather than the productive sectors, such as factories and farms, required to support the nation’s 24-Hour Economy initiative.